Graphic Packaging (NYSE:GPK) Raised to Equal Weight at Wells Fargo & Company

Graphic Packaging (NYSE:GPK) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $27.00 target price on the industrial products company’s stock, up from their prior target price of $24.00. Wells Fargo & Company‘s price target would indicate a potential upside of 1.93% from the company’s current price.

GPK has been the topic of several other reports. Royal Bank of Canada decreased their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Truist Financial downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $30.00 in a report on Wednesday, October 30th. Finally, StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.03.

Graphic Packaging Stock Performance

NYSE GPK opened at $26.49 on Monday. The firm’s 50 day simple moving average is $28.64 and its 200 day simple moving average is $28.54. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 11.42 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. Graphic Packaging has a 1 year low of $23.47 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, research analysts expect that Graphic Packaging will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.65, for a total transaction of $355,800.00. Following the sale, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now directly owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This trade represents a 24.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Institutional investors and hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. lifted its stake in Graphic Packaging by 1.1% in the second quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock valued at $860,000 after buying an additional 369 shares during the period. Worldquant Millennium Advisors LLC lifted its position in shares of Graphic Packaging by 1.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock valued at $1,126,000 after acquiring an additional 401 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Graphic Packaging by 0.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock worth $1,422,000 after purchasing an additional 406 shares during the period. KBC Group NV boosted its position in shares of Graphic Packaging by 1.8% during the 3rd quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 465 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Graphic Packaging by 1.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 42,857 shares of the industrial products company’s stock valued at $1,123,000 after buying an additional 497 shares during the period. Institutional investors own 99.67% of the company’s stock.

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.