Graphic Packaging (NYSE:GPK) Cut to “Hold” at Truist Financial

Truist Financial cut shares of Graphic Packaging (NYSE:GPK) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have $30.00 target price on the industrial products company’s stock, down from their prior target price of $32.00.

GPK has been the subject of several other research reports. Robert W. Baird raised their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock 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 report on Wednesday, July 31st. 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 report on Thursday, October 17th. Citigroup decreased their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.53.

Graphic Packaging Stock Up 0.1 %

Graphic Packaging stock opened at $28.28 on Wednesday. The business’s 50-day simple moving average is $29.39 and its two-hundred day simple moving average is $28.19. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.58 and a current ratio of 1.73. The company has a market cap of $8.49 billion, a PE ratio of 12.09, a PEG ratio of 10.99 and a beta of 0.83. Graphic Packaging has a fifty-two week low of $21.25 and a fifty-two week high of $30.70.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 EPS 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 firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Graphic Packaging will post 2.52 EPS for the current year.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Graphic Packaging

Several institutional investors and hedge funds have recently bought and sold shares of GPK. UMB Bank n.a. raised its position in shares of Graphic Packaging by 546.6% during the 3rd quarter. UMB Bank n.a. now owns 944 shares of the industrial products company’s stock valued at $28,000 after buying an additional 798 shares during the period. LRI Investments LLC purchased a new position in Graphic Packaging during the first quarter worth about $38,000. GAMMA Investing LLC increased its position in shares of Graphic Packaging by 46.3% during the second quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 868 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Graphic Packaging in the 2nd quarter valued at approximately $88,000. Finally, LGT Group Foundation acquired a new position in shares of Graphic Packaging in the 1st quarter worth approximately $134,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.