Shares of Packaging of America (NYSE:PKG) traded today at $82.99, breaking its 52-week high. So far today approximately 449,000 shares have been exchanged, as compared to an average 30-day volume of 1 million shares.
Potential upside of 3.0% exists for Packaging of America, based on a current level of $82.69 and analysts' average consensus price target of $85.17. Packaging of America shares have support at the 50-day moving average (MA) of $78.30 and additional support at the 200-day MA of $70.71.
Packaging Corp of America manufactures containerboard and corrugated packaging products for use in protecting goods during shipment. The Company also produces multi-color boxes and displays, as well as meat boxes and wax-coated boxes for the agricultural industry.
Over the past year, Packaging of America has traded in a range of $57.06 to $82.99 and is now at $82.69, 45% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.