PCA(US:PKG) ZACKSยท2024-10-24 17:02Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1]. Company Overview: Packaging Corp. (PKG) - Packaging Corp. currently holds a Momentum Style Score of A, indicating strong momentum characteristics [1]. - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [2]. Price Performance - Over the past week, PKG shares increased by 1%, while the Zacks Containers - Paper and Packaging industry rose by 2.37% [3]. - In a longer timeframe, PKG's monthly price change is 6.68%, outperforming the industry's 1.01% [3]. - Over the past quarter, PKG shares have risen by 14.4%, and over the last year, they have gained 53.58%, compared to the S&P 500's increases of 4.71% and 39.26%, respectively [3]. Trading Volume - PKG's average 20-day trading volume is 502,789 shares, which serves as a bullish indicator when combined with rising stock prices [3]. Earnings Outlook - In the last two months, two earnings estimates for PKG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $8.72 to $8.77 [4]. - For the next fiscal year, two estimates have also moved upwards without any downward revisions [4]. Conclusion - Given the strong momentum indicators and positive earnings outlook, PKG is recommended as a stock to consider for near-term investment opportunities [4].