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 $563,253 were sold by Vaughn Joseph on Dec 03 ’24. At $244.89 per share, Vaughn Joseph sold 2,300 shares. The insider’s holdings dropped to 9,197 shares worth approximately $2.09 million following the completion of this transaction.
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Also, JOSEPH W VAUGHN purchased 2,300 shares, netting a total of over 563,253 in proceeds.
Before that, STECKO PAUL T had sold 10,500 shares from its account. In a trade valued at $2,571,555, the Director traded Packaging Corp Of America shares for $244.91 each. Upon closing the transaction, the insider’s holdings decreased to 10,500 shares, worth approximately $2.02 million.
As published in a research note from Jefferies on December 18, 2024, Packaging Corp Of America [PKG] has been rated up from a Hold to a Buy and the price target has been revised to $280 from $215. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of April 12, 2024, Exane BNP Paribas has decreased its “an Outperform” rating to a “Neutral” for PKG. Earlier on March 04, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for PKG stock which previously was a “a Neutral”.
Analyzing PKG Stock Performance
During the last five days, there has been a drop of approximately -4.86%. Over the course of the year, Packaging Corp Of America shares have jumped approximately 39.62%. Shares of the company reached a 52-week high of $250.82 on 11/25/24 and a 52-week low of $159.57 on 02/05/24. A 50-day SMA is recorded $234.30, while a 200-day SMA reached $201.80. Nevertheless, trading volume fell to 0.89 million shares from 0.98 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 225.31, which, if violated, would cause prices to drop to 223.16. In the upper region, resistance lies at 231.28. The next price resistance is at 235.10. RSI (Relative Strength Index) is 29.13 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.83, which suggests the price will decrease in the coming days. Percent R is at 97.78%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
