Will Packaging Corporation of America (NYSE:PKG) Run Out of Steam Soon? Short Interest is Up

August 10, 2018 - By Bradley Stiles

Packaging Corporation of America (NYSE:PKG) Logo

Investors sentiment decreased to 0.95 in Q1 2018. Its down 0.07, from 1.02 in 2017Q4. It is negative, as 30 investors sold Packaging Corporation of America shares while 182 reduced holdings. 74 funds opened positions while 127 raised stakes. 78.67 million shares or 1.72% less from 80.05 million shares in 2017Q4 were reported.
Comerica Inc has 9,135 shares for 0.13% of their portfolio. Advantus Mgmt reported 9,669 shares. Laurion Capital Mgmt Limited Partnership has 0.04% invested in Packaging Corporation of America (NYSE:PKG). Natl Bank Of Montreal Can invested 0.01% in Packaging Corporation of America (NYSE:PKG). Lifeplan Financial Grp Incorporated reported 4,086 shares. Boston Advisors Ltd Liability Corp has invested 0.14% in Packaging Corporation of America (NYSE:PKG). Thompson Siegel Walmsley Ltd Liability Corporation stated it has 10,150 shares. Ohio-based Huntington Retail Bank has invested 0.01% in Packaging Corporation of America (NYSE:PKG). Fdx Advsrs holds 0.03% in Packaging Corporation of America (NYSE:PKG) or 9,428 shares. Kentucky Retirement System has invested 0.05% in Packaging Corporation of America (NYSE:PKG). Bartlett Ltd reported 0% of its portfolio in Packaging Corporation of America (NYSE:PKG). Dupont Mgmt has 0.02% invested in Packaging Corporation of America (NYSE:PKG) for 8,540 shares. Connor Clark And Lunn reported 43,550 shares. First Midwest Savings Bank Division has invested 0.11% of its portfolio in Packaging Corporation of America (NYSE:PKG). Arrowstreet Partnership holds 0.04% or 158,536 shares in its portfolio.

Since June 5, 2018, it had 0 insider purchases, and 1 sale for $68,451 activity.

The stock of Packaging Corporation of America (NYSE:PKG) registered an increase of 31.52% in short interest. PKG’s total short interest was 1.84M shares in August as published by FINRA. Its up 31.52% from 1.40M shares, reported previously. With 832,900 shares average volume, it will take short sellers 2 days to cover their PKG’s short positions. The short interest to Packaging Corporation of America’s float is 1.99%.

The stock increased 0.75% or $0.83 during the last trading session, reaching $111.56. About 674,056 shares traded. Packaging Corporation of America (NYSE:PKG) has risen 17.55% since August 10, 2017 and is uptrending. It has outperformed by 4.98% the S&P500.

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company has market cap of $10.44 billion. The companyÂ’s Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging. It has a 14.36 P/E ratio. This segment also produces packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

Packaging Corporation of America (NYSE:PKG) Ratings Coverage

Among 4 analysts covering Packaging Corp (NYSE:PKG), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. Packaging Corp has $140 highest and $120 lowest target. $129.75’s average target is 16.31% above currents $111.56 stock price. Packaging Corp had 7 analyst reports since February 12, 2018 according to SRatingsIntel. The stock of Packaging Corporation of America (NYSE:PKG) earned “Equal-Weight” rating by Barclays Capital on Monday, July 30. Citigroup maintained it with “Neutral” rating and $123 target in Thursday, April 5 report. The company was maintained on Monday, July 30 by Citigroup. Wells Fargo maintained the shares of PKG in report on Friday, July 27 with “Market Perform” rating. The stock of Packaging Corporation of America (NYSE:PKG) earned “Neutral” rating by Citigroup on Tuesday, July 10. The stock of Packaging Corporation of America (NYSE:PKG) earned “Equal-Weight” rating by Barclays Capital on Monday, February 12. The company was upgraded on Monday, February 12 by DA Davidson.

Another recent and important Packaging Corporation of America (NYSE:PKG) news was published by Seekingalpha.com which published an article titled: “Packaging of America (PKG) Q2 2018 Results – Earnings Call Transcript” on July 26, 2018.

Packaging Corporation of America (NYSE:PKG) Institutional Positions Chart

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