Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Packaging Corp Of America shares valued at $54,618 were purchased by GOWLAND KAREN E on May 15 ’24. At $182.06 per share, GOWLAND KAREN E acquired 300 shares. The insider’s holdings grew to 916 shares worth approximately $0.17 million following the completion of this transaction.
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Also, Mundy Robert P. sold 10,000 shares, netting a total of over 1,825,100 in proceeds. Following the sale of shares at $182.51 each, the insider now holds 46,454 shares.
Before that, KOWLZAN MARK W had sold 53,196 shares from its account. In a trade valued at $9,931,693, the Chairman & CEO traded Packaging Corp Of America shares for $186.70 each. Upon closing the transaction, the insider’s holdings decreased to 53,196 shares, worth approximately $86.83 million.
As published in a research note from Wells Fargo on April 24, 2024, Packaging Corp Of America [PKG] has been rated up from an Equal weight to an Overweight and the price target has been revised to $191 from $187. Analysts at Exane BNP Paribas downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. As of March 04, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for PKG. Earlier on January 29, 2024, Seaport Research Partners downgraded its rating. Their new recommendation was “a Neutral” for PKG stock which previously was a “a Buy”.
Analyzing PKG Stock Performance
During the last five days, there has been a drop of approximately -1.22%. Over the course of the year, Packaging Corp Of America shares have jumped approximately 12.45%. Shares of the company reached a 52-week high of $191.39 on 06/24/24 and a 52-week low of $159.57 on 02/05/24. A 50-day SMA is recorded $180.82, while a 200-day SMA reached $169.38. Nevertheless, trading volume fell to 0.71 million shares from 0.5 million shares the previous day.
Support And Resistance Levels for Packaging Corp Of America (PKG)
According to the 24-hour chart, there is a support level at 180.84, which, if violated, would cause prices to drop to 178.49. In the upper region, resistance lies at 185.63. The next price resistance is at 188.08. RSI (Relative Strength Index) is 48.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.64, which suggests the price will decrease in the coming days. Percent R is at 78.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
