Graphic Packaging (NYSE:GPK) Lowered to "Neutral" Rating by BNP Paribas Exane

Graphic Packaging (NYSE:GPK - Get Free Report) was downgraded by analysts at BNP Paribas Exane from an "outperform" rating to a "neutral" rating in a research note issued on Wednesday, Marketbeat Ratings reports.

Other analysts have also issued research reports about the stock. Truist Financial dropped their price objective on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. 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. Finally, UBS Group started coverage on Graphic Packaging in a research note on Wednesday, June 4th. They set a "neutral" rating and a $24.00 target price for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.40.

Graphic Packaging Stock Down 0.7%

NYSE GPK traded down $0.16 during trading hours on Wednesday, hitting $21.01. The company had a trading volume of 5,079,319 shares, compared to its average volume of 2,616,491. The firm's 50 day moving average is $22.64 and its 200 day moving average is $25.26. 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 has a fifty-two week low of $20.86 and a fifty-two week high of $30.70. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 3.77 and a beta of 0.74.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its 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). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. Graphic Packaging's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Sell-side analysts anticipate that Graphic Packaging will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 23.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in Graphic Packaging during the 1st quarter worth $25,960,000. Voya Investment Management LLC grew its holdings in Graphic Packaging by 4.6% during the 1st quarter. Voya Investment Management LLC now owns 46,501 shares of the industrial products company's stock worth $1,207,000 after acquiring an additional 2,037 shares in the last quarter. Strs Ohio acquired a new position in Graphic Packaging during the 1st quarter worth $1,709,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Graphic Packaging by 42.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,983,665 shares of the industrial products company's stock worth $51,496,000 after acquiring an additional 591,409 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Graphic Packaging by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,471,519 shares of the industrial products company's stock worth $38,201,000 after acquiring an additional 132,692 shares in the last quarter. 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.