Packaging Corporation of America (PKG) Shares are Up 2.05%

Packaging Corporation of America (PKG) : Traders are bullish on Packaging Corporation of America (PKG) as it has outperformed the S&P 500 by a wide margin of 1.83% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.05% in the last 1 week, and is up 2.88% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 2.13% and the 50-Day Moving Average is 7.99%. Packaging Corporation of America (NYSE:PKG): On Fridays trading session , Opening price of the stock was $76.88 with an intraday high of $76.99. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $76.02. However, the stock managed to close at $76.16, a loss of 1.04% for the day. On the previous day, the stock had closed at $76.96. The total traded volume of the day was 791,252 shares.


The company Insiders own 1.1% of Packaging Corporation of America shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -12.77% . Institutional Investors own 86.97% of Packaging Corporation of America shares. During last six month period, the net percent change held by insiders has seen a change of -13.53%. Also, In the latest statement by the brokerage house, Deutsche Bank maintains its outlook on Packaging Corporation of America (NYSE:PKG). The current rating of the shares is Hold, according to the research report released by the firm. The brokerage firm raises the price target from $75 per share to $77 per share. The rating by the firm was issued on August 10, 2016.

Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Companys operations are primarily in the United States and it has converting operations in Europe, Mexico, and Canada. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Companys corrugated products manufacturing plants produce a variety of corrugated packaging products, including shipping containers used to protect and transport manufactured goods, multi-color boxes, and displays. It manufactures its Packaging products at five containerboard mills, one containerboard machine, corrugated manufacturing operations, and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities, and foreign exchange gains and losses.

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