Graphic Packaging (NYSE:GPK) Given New $32.00 Price Target at Truist Financial

Graphic Packaging (NYSE:GPKGet Free Report) had its price objective boosted by equities researchers at Truist Financial from $30.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 20.80% from the stock’s previous close.

GPK has been the topic of a number of other reports. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Royal Bank of Canada dropped their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $24.00 to $27.00 in a report on Monday. Finally, Citigroup restated a “neutral” rating and issued a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Graphic Packaging has a consensus rating of “Hold” and an average price target of $32.37.

Check Out Our Latest Report on Graphic Packaging

Graphic Packaging Price Performance

Shares of NYSE GPK opened at $26.49 on Monday. The business has a 50 day simple moving average of $28.64 and a 200-day simple moving average of $28.54. Graphic Packaging has a twelve month low of $23.47 and a twelve month high of $30.70. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth 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 (NYSE:GPKGet Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Graphic Packaging will post 2.52 earnings per share for the current year.

Insider Activity at Graphic Packaging

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

Institutional Investors Weigh In On Graphic Packaging

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its holdings in shares of Graphic Packaging by 268.7% during the second quarter. Hsbc Holdings PLC now owns 51,261 shares of the industrial products company’s stock valued at $1,350,000 after purchasing an additional 37,358 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Graphic Packaging in the second quarter worth about $928,000. JPMorgan Chase & Co. increased its position in shares of Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after acquiring an additional 787,266 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Graphic Packaging by 23.9% during the third quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock valued at $20,949,000 after acquiring an additional 136,342 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Graphic Packaging by 26.1% in the 3rd quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company’s stock valued at $816,000 after acquiring an additional 5,699 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Graphic Packaging (NYSE:GPK)

Receive News & Ratings for Graphic Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graphic Packaging and related companies with MarketBeat.com's FREE daily email newsletter.