Graphic Packaging (NYSE:GPK) Cut to "Hold" at Truist Financial

Graphic Packaging (NYSE:GPK - Get Free Report) was downgraded by Truist Financial from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $30.00 target price on the industrial products company's stock, down from their previous target price of $32.00. Truist Financial's target price would indicate a potential upside of 4.90% from the company's current price.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Graphic Packaging from a "buy" rating to a "hold" rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Graphic Packaging from $21.00 to $24.00 and gave the company an "underweight" rating in a research note on Wednesday, July 31st. Stifel Nicolaus assumed coverage on Graphic Packaging in a report on Tuesday, July 9th. They set a "buy" rating and a $35.20 price target on the stock. Robert W. Baird lifted their price objective on Graphic Packaging from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Finally, Citigroup lowered their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $31.53.

Graphic Packaging Trading Down 0.2 %

Shares of NYSE GPK traded down $0.06 during mid-day trading on Wednesday, hitting $28.60. The stock had a trading volume of 2,068,177 shares, compared to its average volume of 2,533,277. The firm has a market cap of $8.79 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 10.94 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. The business has a 50 day moving average price of $29.42 and a two-hundred day moving average price of $28.18. Graphic Packaging has a 1 year low of $21.08 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business's revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. On average, equities analysts anticipate that Graphic Packaging will post 2.65 EPS for the current fiscal year.

Insider Activity

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the firm'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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael P. Doss sold 49,183 shares of the firm's 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 of the company's stock, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Graphic Packaging

A number of institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Graphic Packaging by 41.9% during the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company's stock worth $317,549,000 after purchasing an additional 3,576,877 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Graphic Packaging by 24.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company's stock worth $437,945,000 after acquiring an additional 2,927,344 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Graphic Packaging by 7.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company's stock valued at $251,632,000 after purchasing an additional 706,486 shares during the last quarter. Sei Investments Co. boosted its position in shares of Graphic Packaging by 33.2% in the 2nd quarter. Sei Investments Co. now owns 1,719,878 shares of the industrial products company's stock worth $45,078,000 after buying an additional 428,278 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew 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 valued at $17,631,000 after purchasing an additional 381,112 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.