Graphic Packaging’s (GPK) “Hold” Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Graphic Packaging (NYSE:GPK) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $10.00 price objective on the industrial products company’s stock, up from their prior price objective of $9.00.

Several other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of Graphic Packaging from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 13th. Wells Fargo & Company dropped their price target on Graphic Packaging from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, September 21st. Bank of America reduced their price objective on Graphic Packaging from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 11th. Finally, Citigroup decreased their price objective on Graphic Packaging from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Graphic Packaging presently has a consensus rating of “Reduce” and a consensus target price of $11.01.

Graphic Packaging Stock Performance

NYSE:GPK traded down $0.32 during trading hours on Wednesday, reaching $11.22. 6,040,492 shares of the company’s stock were exchanged, compared to its average volume of 7,540,982. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 44.88 and a beta of 0.65. The company has a 50-day moving average of $9.43 and a 200 day moving average of $10.63. The company has a quick ratio of 0.60, a current ratio of 1.38 and a debt-to-equity ratio of 1.58. Graphic Packaging has a 1-year low of $8.15 and a 1-year high of $16.61.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.17 billion. Graphic Packaging had a net margin of 2.25% and a return on equity of 9.95%. Graphic Packaging’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. Research analysts anticipate that Graphic Packaging will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Graphic Packaging

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Graphic Packaging in the second quarter valued at about $440,345,000. Manning & Napier Advisors LLC raised its holdings in Graphic Packaging by 6,288.6% during the first quarter. Manning & Napier Advisors LLC now owns 8,481,670 shares of the industrial products company’s stock worth $84,308,000 after purchasing an additional 8,348,907 shares in the last quarter. Bank of America Corp DE purchased a new position in Graphic Packaging during the second quarter worth about $45,266,000. Maple Rock Capital Partners Inc. acquired a new stake in Graphic Packaging in the second quarter valued at about $43,335,000. Finally, Assenagon Asset Management S.A. lifted its position in Graphic Packaging by 323.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,863,216 shares of the industrial products company’s stock valued at $25,912,000 after purchasing an additional 2,187,139 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, through its subsidiary Graphic Packaging International, develops and manufactures fiber-based packaging products for consumer goods companies. Its offerings include paperboard folding cartons, beverage carriers, cups, foodservice packaging, and other packaging solutions designed for products sold in grocery, foodservice, beverage, and household markets.

The company serves brand owners and manufacturers across a range of end markets, including food, beverage, consumer packaged goods, and foodservice.