In a filing, Packaging Corp Of America revealed 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 $8.18 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 $33.05 million.
Wells Fargo upgraded its Packaging Corp Of America [PKG] rating to an Overweight from a an Equal weight in a research note published on April 24, 2024; the price target was increased to $191 from $187. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in mid April from “an Outperform” to “a Neutral”. BofA Securities also remained covering PKG and has increased its forecast on March 04, 2024 with a “Buy” recommendation from previously “Neutral” rating. Seaport Research Partners revised its rating on January 29, 2024. It rated PKG as “a Neutral” which previously was an “a Buy”.
Price Performance Review of PKG
On Monday, Packaging Corp Of America [NYSE:PKG] saw its stock fall -0.07% to $176.15. Over the last five days, the stock has lost -0.51%. Packaging Corp Of America shares have risen nearly 8.13% since the year began. Nevertheless, the stocks have risen 32.39% 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 $182.01, while 200 days put it at $163.24. A total of 0.67 million shares were traded, compared to the trading of 0.48 million shares in the previous session.
Levels Of Support And Resistance For PKG Stock
The 24-hour chart illustrates a support level at 175.28, which if violated will result in even more drops to 174.41. On the upside, there is a resistance level at 177.49. A further resistance level may holdings at 178.83. The Relative Strength Index (RSI) on the 14-day chart is 45.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.63%. Stochastics %K at 47.68% indicates the stock is a holding.
