Graphic Packaging (NYSE:GPK) Price Target Raised to $11.50

Graphic Packaging (NYSE:GPK) had its price objective increased by UBS Group from $9.50 to $11.50 in a report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Graphic Packaging from $11.50 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America decreased their price target on shares of Graphic Packaging from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Raymond James Financial reaffirmed an “underperform” rating on shares of Graphic Packaging in a research report on Wednesday. Truist Financial set a $9.00 price objective on Graphic Packaging in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $11.01.

Graphic Packaging Stock Performance

Graphic Packaging stock traded down $0.32 during trading hours on Wednesday, reaching $11.22. 6,040,492 shares of the company were exchanged, compared to its average volume of 7,540,982. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 44.88 and a beta of 0.65. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 1.58. The stock has a 50-day moving average of $9.43 and a 200 day moving average of $10.63. Graphic Packaging has a 12 month low of $8.15 and a 12 month high of $16.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Graphic Packaging in the 2nd quarter worth about $440,345,000. Manning & Napier Advisors LLC raised its position in Graphic Packaging by 6,288.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 8,481,670 shares of the industrial products company’s stock valued at $84,308,000 after purchasing an additional 8,348,907 shares during the last quarter. Bank of America Corp DE acquired a new position in Graphic Packaging in the second quarter worth $45,266,000. Maple Rock Capital Partners Inc. acquired a new position in Graphic Packaging in the second quarter worth $43,335,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Graphic Packaging by 323.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,863,216 shares of the industrial products company’s stock worth $25,912,000 after purchasing an additional 2,187,139 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Company Profile

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.