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

StockNews.com downgraded shares of Graphic Packaging (NYSE:GPK) from a buy rating to a hold rating in a report published on Wednesday.

A number of other research firms have also weighed in on GPK. Royal Bank of Canada lowered their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus initiated coverage on Graphic Packaging in a research report on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price on the stock. Robert W. Baird lifted their price target on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Truist Financial reduced their target price on Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.53.

Graphic Packaging Stock Performance

Shares of GPK opened at $28.26 on Wednesday. The company’s 50 day simple moving average is $29.42 and its 200-day simple moving average is $28.18. The firm has a market cap of $8.68 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 10.94 and a beta of 0.83. Graphic Packaging has a 12-month low of $21.08 and a 12-month high of $30.70. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.68 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 $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, equities analysts predict that Graphic Packaging will post 2.65 EPS for the current year.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 in the company, valued at $59,555,816.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Graphic Packaging

A number of large investors have recently modified their holdings of GPK. BNP Paribas acquired a new stake in Graphic Packaging during the 1st quarter worth approximately $935,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Graphic Packaging by 43.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock worth $5,916,000 after acquiring an additional 61,102 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Graphic Packaging by 171.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock worth $17,631,000 after acquiring an additional 381,112 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Graphic Packaging by 4.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 832,035 shares of the industrial products company’s stock valued at $23,907,000 after acquiring an additional 33,691 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Graphic Packaging by 99.6% during the 1st quarter. Cetera Investment Advisers now owns 104,490 shares of the industrial products company’s stock valued at $3,049,000 after acquiring an additional 52,139 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.