Wells Fargo & Company Forecasts Strong Price Appreciation for Graphic Packaging (NYSE:GPK) Stock

Graphic Packaging (NYSE:GPK - Get Free Report) had its price objective lifted by stock analysts at Wells Fargo & Company from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 2.53% from the company's previous close.

Several other brokerages also recently issued reports on GPK. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Truist Financial reduced their price objective on shares of Graphic Packaging from $24.00 to $23.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. UBS Group began coverage on shares of Graphic Packaging in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 price objective on the stock. Royal Bank Of Canada reduced 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. Finally, BNP Paribas Exane cut shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Graphic Packaging presently has a consensus rating of "Hold" and an average target price of $26.38.

Graphic Packaging Price Performance

Shares of NYSE:GPK traded down $0.19 during trading on Friday, hitting $22.43. 2,212,258 shares of the company were exchanged, compared to its average volume of 2,633,106. The business's 50 day moving average is $22.15 and its 200-day moving average is $24.69. The company has a market capitalization of $6.77 billion, a P/E ratio of 10.94 and a beta of 0.71. The company has a quick ratio of 0.73, a current ratio of 1.88 and a debt-to-equity ratio of 1.80. Graphic Packaging has a 1-year low of $20.86 and a 1-year high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 23.68% and a net margin of 7.15%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. Equities analysts forecast that Graphic Packaging will post 2.47 earnings per share for the current year.

Graphic Packaging announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the industrial products company to buy 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 stock is undervalued.

Institutional Trading of Graphic Packaging

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Graphic Packaging during the first quarter valued at $28,000. Brooklyn Investment Group increased its position in Graphic Packaging by 69.9% in the 1st quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company's stock valued at $28,000 after buying an additional 438 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Graphic Packaging in the 1st quarter valued at about $42,000. Mizuho Bank Ltd. bought a new stake in Graphic Packaging in the 4th quarter valued at about $43,000. Finally, UMB Bank n.a. increased its position in Graphic Packaging by 42.3% in the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock valued at $55,000 after buying an additional 632 shares in the last quarter. Institutional investors 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.

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