Introduction
Packaging Corp. of America (PKG) is the third largest producer of containerboard products in the USA and produces its products from 95 different plants and eight mills. The company’s share price was initially hit by the COVID-19 outbreak, although losses remained limited to around 20%. Since the 52-week lows, Packaging has had a good run and is currently trading at around $100/share which puts it back on the level it was trading at in February. For simplicity sake, I will abbreviate ‘Packaging Corp. of America’ as ‘Packaging’ or ‘PKG’ throughout this article.