The stock of Packaging Corp Of America (NYSE:PKG) reached all time high today, Nov, 14 and still has $122.06 target or 42.00% above today’s $85.96 share price. This indicates more upside for the $8.15 billion company. This technical setup was reported by Barchart.com. If the $122.06 PT is reached, the company will be worth $3.42B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 1.03 million shares traded hands or 14.26% up from the average. Packaging Corp Of America (NYSE:PKG) has risen 36.12% since April 12, 2016 and is uptrending. It has outperformed by 31.14% 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. Packaging Corporation of America has been the topic of 23 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Thursday, July 14 by Jefferies. The rating was upgraded by Barclays Capital on Friday, January 8 to “Overweight”. The rating was upgraded by Argus Research to “Buy” on Monday, April 25. The stock of Packaging Corp Of America (NYSE:PKG) has “Neutral” rating given on Monday, July 18 by Buckingham Research. The firm has “Buy” rating given on Tuesday, October 18 by Bank of America. As per Monday, April 11, the company rating was downgraded by Dundee Securities. The rating was maintained by Deutsche Bank on Wednesday, August 10 with “Hold”. Barclays Capital maintained Packaging Corp Of America (NYSE:PKG) rating on Monday, October 26. Barclays Capital has “Equal Weight” rating and $67 price target. Citigroup maintained Packaging Corp Of America (NYSE:PKG) rating on Wednesday, August 31. Citigroup has “Neutral” rating and $81 price target. The stock of Packaging Corp Of America (NYSE:PKG) has “Neutral” rating given on Tuesday, September 15 by Bank of America.
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 increased, 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.
Legal General Public Limited Company has 0.01% invested in the company for 97,988 shares. Ngam Ltd Partnership accumulated 206,278 shares or 0.19% of the stock. The Missouri-based Retail Bank has invested 0.3% in Packaging Corp Of America (NYSE:PKG). Diam has invested 0.03% of its portfolio in Packaging Corp Of America (NYSE:PKG). The New York-based Cipher Cap L P has invested 0.09% in Packaging Corp Of America (NYSE:PKG). Allianz Asset Mngmt Ag reported 542,948 shares or 0.02% of all its holdings. Great Lakes Advisors Limited Liability reported 99,926 shares or 0.18% of all its holdings. Brookfield Asset Mngmt has invested 0% of its portfolio in Packaging Corp Of America (NYSE:PKG). Twin Tree Management L P has invested 0.03% of its portfolio in Packaging Corp Of America (NYSE:PKG). Cap Innovations Ltd Co reported 19,839 shares or 3.87% of all its holdings. Glenmede Trust Comm Na holds 0.15% or 357,479 shares in its portfolio. First Tru Lp accumulated 47,369 shares or 0.01% of the stock. The Tennessee-based Mastrapasqua Asset Mgmt Incorporated has invested 0.21% in Packaging Corp Of America (NYSE:PKG). Cadence Mngmt Limited Co last reported 0.08% of its portfolio in the stock. Tci Wealth Advsr, a Arizona-based fund reported 409 shares.
Insider Transactions: Since July 22, 2016, the stock had 0 buys, and 2 sales for $744,490 net activity. 9,000 shares with value of $662,760 were sold by Walton Thomas W.H. on Friday, July 22. Shares for $81,730 were sold by Pflederer Kent A. on Friday, July 22.
More notable 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 with their article: “Packaging Corporation of America acquires Columbus Container” published on October 12, 2016, Reuters.com published: “BRIEF-Packaging Corp Of America to acquire Columbus Container Inc” on October 11, 2016. More interesting news about Packaging Corp Of America (NYSE:PKG) were released by: Therealdeal.com and their article: “Miami warehouses included in large industrial merger” published on September 08, 2016 as well as 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.
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.
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