Truist Financial Issues Pessimistic Forecast for Graphic Packaging (NYSE:GPK) Stock Price

Graphic Packaging (NYSE:GPK - Free Report) had its price objective lowered by Truist Financial from $24.00 to $23.00 in a report published on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the industrial products company's stock.

Several other research firms have also weighed in on GPK. Royal Bank Of Canada dropped their price objective on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 18th. UBS Group began coverage on shares of Graphic Packaging in a research note on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price objective on the stock. BNP Paribas Exane lowered shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price objective (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Finally, Bank of America dropped their price objective on shares of Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.88.

Graphic Packaging Stock Down 0.8%

Shares of GPK stock traded down $0.18 during trading hours on Friday, hitting $22.42. 2,084,966 shares of the company were exchanged, compared to its average volume of 2,610,145. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 1.88. Graphic Packaging has a one year low of $20.86 and a one year high of $30.70. The business's 50-day simple moving average is $22.15 and its two-hundred day simple moving average is $24.83. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 4.08 and a beta of 0.71.

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

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

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, July 5th. Investors of record on Sunday, June 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, June 13th. Graphic Packaging's payout ratio is 21.46%.

Hedge Funds Weigh In On Graphic Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Graphic Packaging by 1,004.9% during the 1st quarter. Victory Capital Management Inc. now owns 9,240,697 shares of the industrial products company's stock worth $239,888,000 after acquiring an additional 8,404,340 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Graphic Packaging by 920.6% in the 4th quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock valued at $113,425,000 after buying an additional 3,767,011 shares during the period. Norges Bank acquired a new position in Graphic Packaging in the 4th quarter worth $98,268,000. Marshall Wace LLP boosted its stake in Graphic Packaging by 735.3% in the 4th quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company's stock worth $66,456,000 after purchasing an additional 2,153,925 shares during the period. Finally, American Century Companies Inc. boosted its stake in Graphic Packaging by 11.7% in the 1st quarter. American Century Companies Inc. now owns 18,488,501 shares of the industrial products company's stock worth $479,962,000 after purchasing an additional 1,932,841 shares during the period. Institutional investors and hedge funds 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.