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

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

A number of other research firms have also issued reports on GPK. UBS Group assumed coverage on Graphic Packaging in a report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 target price on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Truist Financial reduced their target price on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada cut their price target on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Graphic Packaging presently has an average rating of "Hold" and a consensus price target of $28.40.

Graphic Packaging Stock Performance

Shares of GPK opened at $21.58 on Wednesday. The firm has a market capitalization of $6.51 billion, a PE ratio of 10.53, a P/E/G ratio of 3.84 and a beta of 0.74. The company has a quick ratio of 0.73, a current ratio of 1.88 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $22.84 and a 200 day moving average price of $25.41. Graphic Packaging has a 52-week low of $20.86 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). The company had revenue of $2.12 billion for 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 revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, sell-side analysts anticipate that Graphic Packaging will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging announced that its board has approved a stock buyback program on Thursday, May 1st that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 23.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB bought a new position in Graphic Packaging during the first quarter valued at about $25,960,000. Voya Investment Management LLC increased its holdings in shares of 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 valued at $1,207,000 after acquiring an additional 2,037 shares during the last quarter. Strs Ohio bought a new position in shares of Graphic Packaging in the 1st quarter valued at approximately $1,709,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Graphic Packaging by 42.5% in 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 purchasing an additional 591,409 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Graphic Packaging by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,471,519 shares of the industrial products company's stock worth $38,201,000 after purchasing an additional 132,692 shares during the period. Institutional investors own 99.67% of the company's stock.

Graphic Packaging Company Profile

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.

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