Graphic Packaging (NYSE:GPK) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Graphic Packaging (NYSE:GPK) from a buy rating to a hold rating in a research note published on Wednesday morning.

Other analysts have also issued reports about the stock. Wells Fargo & Company increased their target price 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. Royal Bank of Canada dropped their target price on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Robert W. Baird increased their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial dropped their target price on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Graphic Packaging presently has an average rating of “Hold” and a consensus price target of $31.53.

Graphic Packaging Stock Up 0.1 %

Shares of NYSE:GPK opened at $28.28 on Wednesday. The stock’s 50-day moving average price is $29.37 and its 200-day moving average price is $28.19. Graphic Packaging has a 12-month low of $21.25 and a 12-month high of $30.70. The stock has a market capitalization of $8.49 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 10.99 and a beta of 0.83. The company has a current ratio of 1.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.78.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Graphic Packaging will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction 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 approximately $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Graphic Packaging

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Graphic Packaging by 10.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,795 shares of the industrial products company’s stock valued at $636,000 after acquiring an additional 1,976 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Graphic Packaging by 2.5% during the first quarter. State of Michigan Retirement System now owns 75,200 shares of the industrial products company’s stock valued at $2,194,000 after acquiring an additional 1,800 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Graphic Packaging by 43.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock valued at $5,916,000 after acquiring an additional 61,102 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Graphic Packaging by 33.6% during the first quarter. Commonwealth Equity Services LLC now owns 26,313 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 6,612 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Graphic Packaging by 0.3% during the first quarter. Retirement Systems of Alabama now owns 384,325 shares of the industrial products company’s stock valued at $11,215,000 after acquiring an additional 1,010 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

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.