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Analyst Rating In Review: Packaging of America Bid Up 2.6% Since Downgraded 7 Days Ago (PKG)

Published on Wed, 03/06/2013 - 10:10
By Adrienne Chilton

One week ago Packaging of America (NYSE:PKG) was downgraded from Buy to Hold at Argus Research. The stock closed at $42.73, which is 2.6% higher than the price one week ago ($41.66).

Over the past year, Packaging of America has traded in a range of $25.77 to $43.12 and is now at $43.00, 67% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.8%.

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.

Packaging of America (NYSE:PKG) is currently priced 2.9% above its average consensus analyst price target of $41.75. The stock should find initial support at its 50-day moving average (MA) of $39.65 and further support at its 200-day MA of $34.05.

By Adrienne Chilton
achilton@fnno.com