Packaging Corp Of America’s recently made public that its EVP & CFO Mundy Robert P. unloaded Company’s shares for reported $1.83 million on Mar 06 ’24. In the deal valued at $182.51 per share,10,000 shares were sold. As a result of this transaction, Mundy Robert P. now holds 46,454 shares worth roughly $8.36 million.
Then, KOWLZAN MARK W sold 53,196 shares, generating $9,931,693 in total proceeds. Upon selling the shares at $186.70, the Chairman & CEO now owns 474,010 shares.
Before that, Hassfurther Thomas A sold 13,850 shares. Packaging Corp Of America shares valued at $2,507,681 were divested by the Exec. VP at a price of $181.06 per share. As a result of the transaction, Hassfurther Thomas A now holds 187,647 shares, worth roughly $33.76 million.
Exane BNP Paribas downgraded its Packaging Corp Of America [PKG] rating to a Neutral from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early March from “a Neutral” to “a Buy”. Seaport Research Partners also remained covering PKG and has decreased its forecast on January 29, 2024 with a “Neutral” recommendation from previously “Buy” rating.
Price Performance Review of PKG
On Friday, Packaging Corp Of America [NYSE:PKG] saw its stock jump 0.92% to $179.89. Over the last five days, the stock has lost -1.27%. Packaging Corp Of America shares have risen nearly 10.42% since the year began. Nevertheless, the stocks have risen 26.35% over the past one year. While a 52-week high of $191.27 was reached on 04/09/24, a 52-week low of $122.20 was recorded on 02/05/24. SMA at 50 days reached $180.77, while 200 days put it at $160.99. A total of 2.53 million shares were traded, compared to the trading of 0.53 million shares in the previous session.
Levels Of Support And Resistance For PKG Stock
The 24-hour chart illustrates a support level at 178.08, which if violated will result in even more drops to 176.27. On the upside, there is a resistance level at 181.31. A further resistance level may holdings at 182.72. The Relative Strength Index (RSI) on the 14-day chart is 41.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.55%. Stochastics %K at 8.92% indicates the stock is a buying.
