Packaging Corp. (PKG) is a Great Momentum Stock: Should You Buy?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Packaging Corp. (PKG) - Packaging Corp. currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, PKG shares increased by 1.3%, while the Zacks Containers - Paper and Packaging industry rose by 2.57% [5] - In a longer timeframe, PKG's monthly price change is 2.82%, outperforming the industry's 0.53% [5] - Over the last quarter, PKG shares have risen by 6.98%, and over the past year, they have gained 33.76%, compared to the S&P 500's increases of 5.24% and 27.74%, respectively [6] Trading Volume - PKG's average 20-day trading volume is 635,433 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 5 earnings estimates for PKG have been revised upwards, with no downward revisions, raising the consensus estimate from $8.33 to $8.71 [9] - For the next fiscal year, 4 estimates have also moved higher, indicating positive sentiment around the company's earnings potential [9]