Some Traders See Unusual Bullish Options Activity in Packaging Corp Of America

 Some Traders See Unusual Bullish Options Activity in Packaging Corp Of America

In today’s session Packaging Corp Of America (PKG) registered an unusually high (607) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious PKG increase. With 607 contracts traded and 19344 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: PKG161118C00082500 closed last at: $1.35 or 58.8% up. About 248,266 shares traded hands. Packaging Corp Of America (NYSE:PKG) has risen 36.73% since April 11, 2016 and is uptrending. It has outperformed by 30.58% the S&P500.

Packaging Corp Of America (NYSE:PKG) Ratings Coverage

Out of 11 analysts covering Packaging Corporation of America (NYSE:PKG), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. $82 is the highest target while $59 is the lowest. The $73.40 average target is -10.16% below today’s ($81.7) stock price. Packaging Corporation of America has been the topic of 23 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Citigroup downgraded the shares of PKG in a report on Monday, January 25 to “Neutral” rating. Barclays Capital upgraded the stock to “Overweight” rating in Friday, January 8 report. The firm earned “Sell” rating on Thursday, September 22 by Goldman Sachs. Barclays Capital maintained Packaging Corp Of America (NYSE:PKG) on Monday, October 26 with “Equal Weight” rating. Citigroup maintained Packaging Corp Of America (NYSE:PKG) rating on Tuesday, July 19. Citigroup has “Neutral” rating and $74 price target. Bank of America downgraded the stock to “Neutral” rating in Tuesday, September 15 report. The stock of Packaging Corp Of America (NYSE:PKG) earned “Buy” rating by Jefferies on Thursday, July 14. The firm has “Outperform” rating by BMO Capital Markets given on Thursday, July 23. Buckingham Research downgraded the shares of PKG in a report on Monday, July 18 to “Neutral” rating. Citigroup maintained the shares of PKG in a report on Wednesday, August 31 with “Neutral” rating.

According to Zacks Investment Research, “Packaging Corp. of America is one of the largest producers of containerboard in the United States and also one of the largest manufacturers of corrugated packaging products. The company produces corrugated containers as well as the containerboard used to manufacture corrugated containers. Corrugated containers are the most commonly used type of paper packaging. Corrugated containers, referred to as cardboard boxes, are made by combining multiple layers of heavyweight paper known as containerboard and fabricating them into finished boxes.”

Insitutional Activity: The institutional sentiment increased to 1.36 in 2016 Q2. Its up 0.21, from 1.15 in 2016Q1. The ratio is positive, as 32 funds sold all Packaging Corp Of America shares owned while 119 reduced positions. 66 funds bought stakes while 140 increased positions. They now own 78.73 million shares or 5.59% less from 83.40 million shares in 2016Q1.
Bluecrest Cap Mngmt owns 4,991 shares or 0.01% of their US portfolio. Hotchkis & Wiley Capital Mgmt Ltd Com holds 0.25% of its portfolio in Packaging Corp Of America (NYSE:PKG) for 875,622 shares. The United Kingdom-based Hsbc Holdings Public Ltd Company has invested 0.01% in Packaging Corp Of America (NYSE:PKG). Blackrock Gru Limited owns 626,551 shares or 0.02% of their US portfolio. Virginia Retirement Et Al holds 0% or 3,000 shares in its portfolio. The New York-based Goldman Sachs Group has invested 0.02% in Packaging Corp Of America (NYSE:PKG). The Massachusetts-based Acadian Asset Ltd has invested 0% in Packaging Corp Of America (NYSE:PKG). Citigroup holds 0% of its portfolio in Packaging Corp Of America (NYSE:PKG) for 27,605 shares. First Quadrant Lp Ca holds 0.52% or 353,200 shares in its portfolio. The New York-based Van Eck Corporation has invested 0% in Packaging Corp Of America (NYSE:PKG). Skba Cap Management Ltd Liability Corporation accumulated 263,990 shares or 1.6% of the stock. Ftb Advsrs accumulated 0.02% or 2,537 shares. Moreover, Ifrah Finance Ser Inc has 0.12% invested in Packaging Corp Of America (NYSE:PKG) for 4,660 shares. Deutsche Fincl Bank Ag accumulated 522,089 shares or 0.02% of the stock. Deere And reported 30,033 shares or 0.11% of all its holdings.

Insider Transactions: Since July 22, 2016, the stock had 0 insider purchases, and 2 selling transactions for $744,490 net activity. 9,000 shares were sold by Walton Thomas W.H., worth $662,760. On Friday, July 22 Pflederer Kent A. sold $81,730 worth of the stock or 1,100 shares.

Packaging Corporation of America is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The company has a market cap of $7.68 billion. The Firm operates through three divisions: Packaging, Paper, and Corporate and Other. It has a 17.56 P/E ratio. The Firm operates over eight mills and approximately 90 corrugated products manufacturing plants.

PKG Company Profile

Packaging Corporation of America (PCA), incorporated on January 25, 1999, is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Firm operates through three divisions: Packaging, Paper, and Corporate and Other. The Firm operates over eight mills and approximately 90 corrugated products manufacturing plants. It operates primarily in the United States and has converting and distribution activities in Canada.

More recent Packaging Corp Of America (NYSE:PKG) news were published by: Businesswire.com which released: “Packaging Corporation of America Announces Agreement to Acquire TimBar Corporation” on July 06, 2016. Also Dailyherald.com published the news titled: “Packaging Corporation of America completes acquisition of TimBar” on August 30, 2016. Seekingalpha.com‘s news article titled: “Packaging Corp of America’s (PKG) CEO Mark Kowlzan on Q3 2016 Results …” with publication date: October 20, 2016 was also an interesting one.

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