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

Graphic Packaging (NYSE:GPK - Get Free Report) had its price target dropped by equities research analysts at Truist Financial from $24.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Truist Financial's price objective indicates a potential upside of 1.72% from the company's previous close.

A number of other equities analysts have also commented on the company. Royal Bank Of Canada dropped their price objective on 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 started coverage on Graphic Packaging in a research note on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price target on the stock. BNP Paribas Exane lowered Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Finally, Bank of America lowered their price target on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday. 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, Graphic Packaging presently has a consensus rating of "Hold" and a consensus target price of $26.88.

Graphic Packaging Trading Up 0.8%

Graphic Packaging stock opened at $22.61 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 1.88. The business's 50-day simple moving average is $22.13 and its 200-day simple moving average is $24.87. The firm has a market capitalization of $6.82 billion, a PE ratio of 11.03, a PEG ratio of 4.05 and a beta of 0.71. 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.14 billion. Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities research analysts forecast that Graphic Packaging will post 2.47 earnings per share for the current year.

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

Institutional Investors Weigh In On Graphic Packaging

A number of institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management boosted its holdings in Graphic Packaging by 55.4% during the fourth 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. Concurrent Investment Advisors LLC boosted its holdings in shares of Graphic Packaging by 3.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 11,535 shares of the industrial products company's stock worth $299,000 after acquiring an additional 402 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in shares of Graphic Packaging by 3.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company's stock worth $303,000 after acquiring an additional 413 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Graphic Packaging by 69.9% in the 1st quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company's stock worth $28,000 after acquiring an additional 438 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC boosted its holdings in shares of Graphic Packaging by 4.1% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 11,770 shares of the industrial products company's stock worth $306,000 after acquiring an additional 465 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.

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