The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Packaging Corp Of America shares valued at $1,921,600 were sold by Shirley Donald R. on Nov 12 ’24. At $240.20 per share, Shirley Donald R. sold 8,000 shares. The insider’s holdings dropped to 15,725 shares worth approximately $3.84 million following the completion of this transaction.
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Also, Shirley Donald R. purchased 8,000 shares, netting a total of over 1,922,320 in proceeds.
Before that, Mundy Robert P. had sold 12,500 shares from its account. In a trade valued at $3,007,738, the EVP & CFO traded Packaging Corp Of America shares for $240.62 each. Upon closing the transaction, the insider’s holdings decreased to 12,500 shares, worth approximately $10.73 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 2.42%. Over the course of the year, Packaging Corp Of America shares have jumped approximately 49.84%. Shares of the company reached a 52-week high of $248.62 on 11/20/24 and a 52-week low of $159.57 on 02/05/24. A 50-day SMA is recorded $223.36, while a 200-day SMA reached $195.01. Nevertheless, trading volume fell to 1.03 million shares from 0.33 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 237.53, which, if violated, would cause prices to drop to 230.97. In the upper region, resistance lies at 249.64. The next price resistance is at 255.19. RSI (Relative Strength Index) is 72.53 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.60, which suggests the price will increase in the coming days. Percent R is at 22.65%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
