Graphic Packaging (GPK) Upgraded to Hold by Zacks Investment Research
Graphic Packaging (NYSE:GPK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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. “
Several other brokerages have also recently commented on GPK. KeyCorp reiterated a “hold” rating on shares of Graphic Packaging in a report on Sunday, October 29th. BMO Capital Markets raised their target price on shares of Graphic Packaging from $15.50 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Robert W. Baird raised their target price on shares of Graphic Packaging from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Stephens assumed coverage on shares of Graphic Packaging in a report on Tuesday, October 24th. They issued an “overweight” rating and a $17.00 target price for the company. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 target price on shares of Graphic Packaging in a report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.26.
Graphic Packaging (NYSE:GPK) opened at $16.17 on Monday. Graphic Packaging has a 12-month low of $12.00 and a 12-month high of $16.29. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.74 and a current ratio of 1.50. The firm has a market cap of $5,010.00, a PE ratio of 31.71, a PEG ratio of 3.63 and a beta of 1.19.
Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Graphic Packaging had a net margin of 3.70% and a return on equity of 17.27%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. sell-side analysts expect that Graphic Packaging will post 0.65 earnings per share for the current year.
In other Graphic Packaging news, VP Deborah R. Frank sold 38,266 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $15.51, for a total value of $593,505.66. Following the completion of the transaction, the vice president now directly owns 77,139 shares in the company, valued at $1,196,425.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners lifted its position in shares of Graphic Packaging by 2.5% in the third quarter. Boston Partners now owns 23,242,239 shares of the industrial products company’s stock worth $324,229,000 after purchasing an additional 575,011 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Graphic Packaging by 241.9% in the third quarter. American Century Companies Inc. now owns 15,844,681 shares of the industrial products company’s stock worth $221,033,000 after purchasing an additional 11,210,161 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Graphic Packaging by 6.5% in the third quarter. Janus Henderson Group PLC now owns 9,022,954 shares of the industrial products company’s stock worth $125,871,000 after purchasing an additional 548,688 shares in the last quarter. Canyon Capital Advisors LLC purchased a new stake in shares of Graphic Packaging in the second quarter worth approximately $100,045,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Graphic Packaging by 1.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 6,197,050 shares of the industrial products company’s stock worth $86,449,000 after purchasing an additional 60,750 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Graphic Packaging Company Profile
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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