Graphic Packaging (GPK) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Graphic Packaging (NYSE:GPK) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $14.00 price objective on the industrial products company’s stock.
According to Zacks, “GRAPHIC PACKAGING CORPORATION, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. Graphic Packaging’s customers include some of the most widely recognized companies in the world. “
A number of other research firms have also recently issued reports on GPK. Bank of America increased their target price on Graphic Packaging from $16.80 to $17.00 and gave the stock a buy rating in a research note on Monday, July 16th. Citigroup decreased their price target on shares of Graphic Packaging from $18.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, July 25th. Finally, ValuEngine cut shares of Graphic Packaging from a hold rating to a sell rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Graphic Packaging currently has a consensus rating of Buy and an average price target of $17.44.
Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Graphic Packaging had a return on equity of 13.05% and a net margin of 5.74%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the company posted $0.15 earnings per share. Graphic Packaging’s revenue for the quarter was up 37.8% compared to the same quarter last year. As a group, sell-side analysts expect that Graphic Packaging will post 0.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Saturday, September 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 2.36%. Graphic Packaging’s dividend payout ratio is currently 47.62%.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd grew its stake in shares of Graphic Packaging by 583.1% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 6,660 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 5,685 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of Graphic Packaging by 2,633.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 8,200 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 7,900 shares in the last quarter. WealthTrust Fairport LLC bought a new position in shares of Graphic Packaging during the 2nd quarter worth approximately $146,000. CIBC Asset Management Inc bought a new position in shares of Graphic Packaging in the second quarter valued at $148,000. Finally, Cerebellum GP LLC grew its stake in shares of Graphic Packaging by 43.0% in the second quarter. Cerebellum GP LLC now owns 11,999 shares of the industrial products company’s stock valued at $174,000 after buying an additional 3,607 shares in the last quarter. 99.12% of the stock is owned by institutional investors.
About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons primarily to consumer packaged goods companies.
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