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

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

GPK has been the topic of a number of other reports. BNP Paribas Exane downgraded Graphic Packaging from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Royal Bank Of Canada cut their price objective on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. Bank of America lowered their target price on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Finally, UBS Group started coverage on Graphic Packaging in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 target price for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.88.

Graphic Packaging Trading Down 0.5%

NYSE GPK traded down $0.12 during trading hours on Friday, hitting $22.30. 2,021,631 shares of the company's stock were exchanged, compared to its average volume of 2,608,623. The business's 50 day moving average is $22.15 and its 200-day moving average is $24.79. Graphic Packaging has a 12-month low of $20.86 and a 12-month high of $30.70. The firm has a market capitalization of $6.73 billion, a P/E ratio of 10.88 and a beta of 0.71. 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 (NYSE:GPK - Get Free Report) last released its earnings results 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 analysts' expectations of $2.14 billion. Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. As a group, analysts anticipate that Graphic Packaging will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 23.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.97%. Graphic Packaging's dividend payout ratio (DPR) is presently 21.46%.

Institutional Investors Weigh In On Graphic Packaging

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Graphic Packaging during the 1st quarter valued at approximately $28,000. Brooklyn Investment Group grew its stake in Graphic Packaging by 69.9% during the 1st quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 438 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 394 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 689 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Graphic Packaging during the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 99.67% of the company's stock.

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.