26-Apr-2024
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Seeking Alpha News (Fri, 26-Apr 11:36 AM ET)
Truist Financial Keeps Their Buy Rating on Packaging (PKG)
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Buy Rating Affirmed for Packaging Corp. on Strong Performance and Favorable Valuation
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Benzinga (Tue, 23-Apr 2:38 AM ET)
Packaging Corp of America beats Q1 expectations, guides Q2 below street view
Seeking Alpha News (Mon, 22-Apr 4:40 PM ET)
Packaging Non-GAAP EPS of $1.72 beats by $0.04, revenue of $1.98B beats by $70M
Seeking Alpha News (Mon, 22-Apr 4:13 PM ET)
Packaging Corp of America is the third-largest containerboard and corrugated packaging manufacturer in the United States. It produces over 4.5 million tons of containerboard annually. The company's share of the domestic containerboard market is roughly 10%. The firm differentiates itself from larger competitors by focusing on smaller customers and operating with a high degree of flexibility.
Packaging Of America trades on the NYSE stock market under the symbol PKG.
As of April 26, 2024, PKG stock price climbed to $172.85 with 453,110 million shares trading.
PKG has a beta of 0.44, meaning it tends to be less sensitive to market movements. PKG has a correlation of 0.05 to the broad based SPY ETF.
PKG has a market cap of $15.54 billion. This is considered a Large Cap stock.
Last quarter Packaging Of America reported $2 billion in Revenue and $1.72 earnings per share. This beat revenue expectation by $70 million and exceeded earnings estimates by $.04.
In the last 3 years, PKG stock traded as high as $191.27 and as low as $110.56.
The top ETF exchange traded funds that PKG belongs to (by Net Assets): VTI, VOO, VO, SCHD, SPY.
PKG has outperformed the market in the last year with a return of +34.6%, while the SPY ETF gained +27.4%. However, in the most recent history, PKG shares have underperformed the stock market with its stock returning +1.2% in the last 3 month period and -5.1% for the last 2 week period, while SPY has returned +4.6% and -0.5%, respectively.
PKG support price is $168.83 and resistance is $173.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PKG stock will trade within this expected range on the day.