Company Shares Of Packaging Corporation Of America Drops By -4.86%
20 June 2016
Packaging Corporation of America (NYSE:PKG) has tumbled 4.86% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.95% in the last four weeks. The stocks have underperformed the S&P 500 by 3.72% during the past week but Packaging Corporation of America (NYSE:PKG) it has outperformed the index in 4 weeks by 0.03%.
Packaging Corporation of America (NYSE:PKG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $65.44 and $64.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $65.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $65.75, notching a gain of 0.31% for the day. The total traded volume was 1,306,976 . The stock had closed at $65.55 on the previous day.
The company shares have dropped -1.75% from its 1 Year high price. On Aug 17, 2015, the shares registered one year high at $73.60 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $66.75 and the 200 Day Moving Average price is recorded at $59.93.
On the companys insider trading activities, Carter Charles J., officer (SVP-Containerboard) of Packaging Corp Of America, unloaded 6,463 shares at an average price of $65.63 on April 22, 2016. The total amount of the transaction was worth $424,167, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Argus Research, upgrades their rating on the shares of Packaging Corporation of America (NYSE:PKG). Argus Research has a Buy rating on the shares. Previously, the analysts had a Hold rating on the shares. As per the latest report, the brokerage house raises the price target to $73 per share. The rating by the firm was issued on April 25, 2016. Currently 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 -23.6% . Institutional Investors own 88.92% of Packaging Corporation of America shares. During last six month period, the net percent change held by insiders has seen a change of -15.63%.
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.
Source : tradecalls.org