Graphic Packaging (NYSE:GPK) Downgraded by StockNews.com

Graphic Packaging (NYSE:GPK) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

GPK has been the subject of a number of other reports. Royal Bank of Canada reduced their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Truist Financial cut their price target on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Citigroup lowered their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.87.

Graphic Packaging Trading Down 5.6 %

Shares of GPK opened at $28.67 on Wednesday. The stock’s 50-day moving average price is $29.41 and its 200 day moving average price is $28.18. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Graphic Packaging has a 12-month low of $20.82 and a 12-month high of $30.70. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 10.94 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Graphic Packaging’s revenue was down 6.5% on a year-over-year basis. As a group, research analysts predict that Graphic Packaging will post 2.65 earnings per share for the current year.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 in the company, valued at $59,555,816.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging 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 approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $2,422,790.70. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Graphic Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Graphic Packaging by 10.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,795 shares of the industrial products company’s stock worth $636,000 after buying an additional 1,976 shares during the period. State of Michigan Retirement System grew its holdings in Graphic Packaging by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 75,200 shares of the industrial products company’s stock worth $2,194,000 after acquiring an additional 1,800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Graphic Packaging by 43.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock valued at $5,916,000 after acquiring an additional 61,102 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Graphic Packaging by 33.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 26,313 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 6,612 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Graphic Packaging by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 384,325 shares of the industrial products company’s stock worth $11,215,000 after purchasing an additional 1,010 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

About Graphic Packaging

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.