Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Packaging Corp Of America shares valued at $1,057,753 were sold by Carter Charles J. on Jul 25 ’24. At $196.28 per share, Carter Charles J. sold 5,389 shares. The insider’s holdings dropped to 25,539 shares worth approximately $5.85 million following the completion of this transaction.
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Also, Shirley Donald R. sold 6,000 shares, netting a total of over 1,177,680 in proceeds. Following the sale of shares at $196.28 each, the insider now holds 20,772 shares.
Before that, GOWLAND KAREN E had added 300 shares to its account. In a trade valued at $54,618, the Director bought Packaging Corp Of America shares for $182.06 each. Upon closing the transaction, the insider’s holdings increased to 300 shares, worth approximately $0.21 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 surge of approximately 0.63%. Over the course of the year, Packaging Corp Of America shares have jumped approximately 40.53%. Shares of the company reached a 52-week high of $232.98 on 10/31/24 and a 52-week low of $159.57 on 02/05/24. A 50-day SMA is recorded $214.18, while a 200-day SMA reached $190.00. Nevertheless, trading volume fell to 0.65 million shares from 0.51 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 227.08, which, if violated, would cause prices to drop to 225.22. In the upper region, resistance lies at 231.89. The next price resistance is at 234.84. RSI (Relative Strength Index) is 68.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.21, which suggests the price will increase in the coming days. Percent R is at 24.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
