Who Are They?
The Packaging Corporation of America is a publicly traded packaging company headquartered in Lake Forest, Illinois. The business has been operating for over 100 years and employs over 18,000 people. It is the largest producer of container board and corrugated packaging products in the United States. The Corporation also has the 8th largest commercial printing business in the country and operates over thirty plants. It also owns four divisions: Packaging, Paper, Corporate, and Recycling.
The company mainly produces packaging for food, beverages, healthcare, industrial, and consumer products in addition to the production of specialised packaging for schools, offices, and retail stores. The company is dedicated to environmental sustainability and offers flexible packaging design and options in addition to recycled paper products as well as packaging made from recycled materials.
The company’s production plants manufacture a variety of corrugated packaging products including multicolour boxes and conventional shipping containers. Additionally, it’s a manufacturer of wax-coated boxes and meat boxes for the agricultural industry. The company’s mills in Tennessee and Valdosta, Counce, and Georgia manufactured 1.6 million tons of Kraft liner board last Year.
Who Are Their Customers?
The corporation’s customers are companies that are located all over the world with the main ones being those that need shipping containers for transporting their products. These types include retailers, manufacturers, and distributors in all industries across the country who ship and offer delivery services of goods by truck or train once they’re finished with production at one factory and then turn around time- coyly called “just-in-time” manufacturing practices. In addition, these clients also rely heavily on environmentally friendly packaging products such as closures and desiccant systems where lids securely fasten themselves on filled prescriptions bottles protecting the contents, etc.
Trading Figures Analysis
The Corporation (NYSE: PKG) has observed selling pressure as well as the shares last traded with a loss of -0.53 points or -0.83% at $63.28. The net money was calculated at $2.07 million with an inflow of $20.82 million in upticks and an outflow of $18.75 million in downticks till the latest update. The share price stood at -9.5% last week. The block trade of $5.78 million in uptick and $3.8 million in downtick was also witnessed and has resulted in an up/down ratio of 1.52. The actual money flow of the block trade stood at $1.98. A rise of 30.9% or 561,076 shares was reported in its short interest.
The short statistic came in at 2.5% of the total floats. The average day-to-day volume of 719,780 shares suggests that there will be 3 days to cover 2,379,649 short positions. The short interest was 1,818,573 shares on July 31st, 2015. This information was released and delivered by the Financial Industry Regulatory Authority, Inc (FINRA) on the 25th of August.
Investors Upbeat About Buying Shares of Packaging Corporation of America
It has been reported that several investors have jumped in to buy shares in the business. The comments from many key analysts have been coming in thick and fast: The brokerage firm Jefferies continues to rate the business. The brokerage house has raised the price growth target to $82 per share from a previous target of $80 and this rating was issued by the firm on 23rd July 2015.
The shares rose 1.07% or 0.68 points on Wednesday 26th August and appeared as the profit makers of the day. The trading that day started at $64.4 per share and then the stock reached $65.62 at its peak level and $62.22 at its lowest level. The 52-Week high of the share price is $84.88 while the low is $57.06. The overall market cap of the company is $6,302 million. The shares of this packaging business are predicted to reach $79.60 in the short term.
To read more news related to Packaging Corporation of America, you can look at their corporate site.
