Zacks Investment Research upgraded shares of Graphic Packaging (NYSE:GPK) from a sell rating to a hold rating in a research note released on Monday morning. Zacks Investment Research currently has $18.00 price objective on the industrial products company’s stock.
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 research analysts have also weighed in on the stock. KeyCorp reissued a hold rating on shares of Graphic Packaging in a report on Sunday, October 29th. Stephens started coverage on shares of Graphic Packaging in a report on Tuesday, October 24th. They set an overweight rating and a $17.00 price objective for the company. Robert W. Baird raised their price objective 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. BMO Capital Markets raised their price objective 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. Finally, Royal Bank of Canada reissued a buy rating and set a $15.00 price objective on shares of Graphic Packaging in a report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $16.48.
Graphic Packaging (GPK) traded up $0.43 on Monday, reaching $16.68. 3,105,862 shares of the company were exchanged, compared to its average volume of 3,235,820. The firm has a market cap of $5,010.00, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 3.63 and a beta of 1.19. Graphic Packaging has a 1-year low of $12.00 and a 1-year high of $16.71. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.74 and a current ratio of 1.50.
Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Graphic Packaging had a net margin of 3.70% and a return on equity of 17.27%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. analysts forecast that Graphic Packaging will post 0.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were given a $0.075 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. Graphic Packaging’s payout ratio is currently 58.82%.
In other 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 transaction, the vice president now directly owns 77,139 shares in the company, valued at approximately $1,196,425.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.02% of the company’s stock.
Several institutional investors have recently bought and sold shares of GPK. Russell Investments Group Ltd. lifted its position in shares of Graphic Packaging by 101.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 32,045 shares of the industrial products company’s stock worth $442,000 after buying an additional 16,119 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Graphic Packaging by 2.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,430,683 shares of the industrial products company’s stock worth $19,715,000 after buying an additional 40,286 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Graphic Packaging by 23.6% in the 2nd quarter. SG Americas Securities LLC now owns 14,382 shares of the industrial products company’s stock worth $198,000 after buying an additional 2,746 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Graphic Packaging by 2.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 157,069 shares of the industrial products company’s stock worth $2,164,000 after buying an additional 3,730 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Graphic Packaging by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 15,270 shares of the industrial products company’s stock worth $210,000 after buying an additional 123 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.
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About Graphic Packaging
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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