Bank of America Has Lowered Expectations for Graphic Packaging (NYSE:GPK) Stock Price

Graphic Packaging (NYSE:GPK - Get Free Report) had its price target decreased by investment analysts at Bank of America from $31.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Bank of America's price target would indicate a potential upside of 23.27% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Truist Financial decreased their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. BNP Paribas Exane cut Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group started coverage on Graphic Packaging in a report on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 price target for the company. Finally, Raymond James Financial reissued an "outperform" rating and set a $26.00 price objective (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.50.

Graphic Packaging Stock Up 1.2%

Shares of NYSE GPK traded up $0.28 during mid-day trading on Wednesday, hitting $22.72. The company had a trading volume of 1,643,985 shares, compared to its average volume of 2,610,876. The company has a market capitalization of $6.85 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 3.95 and a beta of 0.71. The business's 50-day simple moving average is $22.11 and its 200 day simple moving average is $24.90. Graphic Packaging has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.88 and a quick ratio of 0.73.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.66 EPS. Graphic Packaging's revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts predict that Graphic Packaging will post 2.47 earnings per share for the current year.

Graphic Packaging declared that its board has initiated a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 23.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Graphic Packaging

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in Graphic Packaging by 21.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 434,871 shares of the industrial products company's stock valued at $9,163,000 after buying an additional 77,162 shares during the period. Salem Investment Counselors Inc. raised its holdings in Graphic Packaging by 130.3% during the second quarter. Salem Investment Counselors Inc. now owns 19,892 shares of the industrial products company's stock worth $421,000 after purchasing an additional 11,254 shares in the last quarter. Swedbank AB acquired a new stake in Graphic Packaging in the first quarter valued at about $25,960,000. Voya Investment Management LLC boosted its holdings in Graphic Packaging by 4.6% in the 1st quarter. Voya Investment Management LLC now owns 46,501 shares of the industrial products company's stock valued at $1,207,000 after purchasing an additional 2,037 shares in the last quarter. Finally, Strs Ohio acquired a new position in Graphic Packaging during the 1st quarter worth approximately $1,709,000. 99.67% of the stock is 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.