Packaging of America: 52-Week High Recently Eclipsed (PKG)
Shares of Packaging of America (NYSE:PKG) traded at a new 52-week high today of $43.42. Approximately 211,000 shares have changed hands today, as compared to an average 30-day volume of 1 million shares.
In the past 52 weeks, shares of Packaging of America have traded between a low of $25.77 and a high of $43.42 and are now at $43.27, which is 68% above that low price. The 200-day and 50-day moving averages have moved 0.64% higher and 0.78% higher over the past week, respectively.
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 3.5% 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.
SmarTrend recommended that subscribers consider buying shares of Packaging of America on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.50. Since that recommendation, shares of Packaging of America have risen 17.1%. We continue to monitor PKG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows packaging of america