Truist Financial Downgrades Graphic Packaging (NYSE:GPK) to Hold

Graphic Packaging (NYSE:GPK - Get Free Report) was downgraded by Truist Financial from a "buy" rating to a "hold" rating in a report released on Wednesday, Marketbeat reports. They currently have a $30.00 price target on the industrial products company's stock, down from their previous price target of $32.00. Truist Financial's price target points to a potential upside of 6.16% from the company's current price.

Several other analysts also recently issued reports on GPK. Citigroup reduced their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, July 8th. Stifel Nicolaus began coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They set a "buy" rating and a $35.20 target price for the company. Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an "underweight" rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.53.

Graphic Packaging Trading Down 1.4 %

NYSE GPK traded down $0.40 on Wednesday, reaching $28.26. The company had a trading volume of 8,751,697 shares, compared to its average volume of 2,565,239. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 10.94 and a beta of 0.83. Graphic Packaging has a fifty-two week low of $21.08 and a fifty-two week high of $30.70. The business has a 50 day moving average of $29.42 and a two-hundred day moving average of $28.18. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued 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). The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. Graphic Packaging's revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. Analysts forecast that Graphic Packaging will post 2.65 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the firm's 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 sale, the chief executive officer now directly owns 2,123,202 shares of the company's stock, valued at $59,555,816.10. 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 through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging 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 sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The trade was 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 corporate insiders.

Institutional Investors Weigh In On Graphic Packaging

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas bought a new position in Graphic Packaging in the first quarter worth about $935,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in 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 valued at $5,916,000 after buying an additional 61,102 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Graphic Packaging by 171.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company's stock worth $17,631,000 after purchasing an additional 381,112 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Graphic Packaging by 4.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 832,035 shares of the industrial products company's stock worth $23,907,000 after acquiring an additional 33,691 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Graphic Packaging by 99.6% in the 1st quarter. Cetera Investment Advisers now owns 104,490 shares of the industrial products company's stock valued at $3,049,000 after buying an additional 52,139 shares in the last quarter. 99.67% of the stock is owned by 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.