Graphic Packaging (NYSE:GPK) PT Lowered to $34.00

Graphic Packaging (NYSE:GPK) had its price objective lowered by equities researchers at Royal Bank of Canada from $35.00 to $34.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.75% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial decreased their price target on Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup dropped their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Graphic Packaging currently has a consensus rating of “Moderate Buy” and an average price target of $30.65.

Graphic Packaging Stock Up 0.5 %

Shares of GPK traded up $0.15 during trading hours on Thursday, hitting $29.63. The company had a trading volume of 1,338,378 shares, compared to its average volume of 2,498,378. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $9.11 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 5.08 and a beta of 0.83. Graphic Packaging has a one year low of $20.07 and a one year high of $30.66. The company’s fifty day moving average price is $29.15 and its two-hundred day moving average price is $28.11.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that Graphic Packaging will post 2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now directly owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Graphic Packaging

Several institutional investors and hedge funds have recently modified their holdings of GPK. Howard Capital Management Group LLC grew its holdings in Graphic Packaging by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock valued at $29,826,000 after purchasing an additional 2,969 shares during the period. Ellsworth Advisors LLC lifted its position in shares of Graphic Packaging by 0.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 160,726 shares of the industrial products company’s stock valued at $4,756,000 after buying an additional 591 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in Graphic Packaging by 7.2% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 88,852 shares of the industrial products company’s stock valued at $2,629,000 after acquiring an additional 5,994 shares during the period. Burns Matteson Capital Management LLC acquired a new position in Graphic Packaging during the third quarter worth $380,000. Finally, Fiduciary Financial Group LLC lifted its holdings in Graphic Packaging by 12.0% during the third quarter. Fiduciary Financial Group LLC now owns 10,735 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 1,149 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Company Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.