Royal Bank of Canada Lowers Graphic Packaging (NYSE:GPK) Price Target to $34.00

Graphic Packaging (NYSE:GPK) had its price target cut by Royal Bank of Canada from $35.00 to $34.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.96% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GPK. Stifel Nicolaus began coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price for the company. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Citigroup cut their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Truist Financial lowered their price target on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

Graphic Packaging Trading Up 1.1 %

NYSE GPK opened at $30.10 on Thursday. The stock has a market cap of $9.25 billion, a PE ratio of 13.62, a PEG ratio of 5.08 and a beta of 0.83. Graphic Packaging has a 12 month low of $20.07 and a 12 month high of $30.66. The company’s 50-day moving average price is $29.22 and its 200-day moving average price is $28.13. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. Equities research analysts forecast that Graphic Packaging will post 2.66 earnings per share for the current year.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Trading of Graphic Packaging

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Graphic Packaging by 8.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,048,794 shares of the industrial products company’s stock worth $25,853,000 after buying an additional 79,434 shares during the period. PNC Financial Services Group Inc. grew its stake in Graphic Packaging by 20.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,489 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 4,049 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Graphic Packaging in the first quarter valued at about $26,000. Alaska Permanent Fund Corp raised its stake in shares of Graphic Packaging by 7.5% in the first quarter. Alaska Permanent Fund Corp now owns 97,769 shares of the industrial products company’s stock worth $2,853,000 after purchasing an additional 6,810 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Graphic Packaging by 4.4% during the first quarter. Fulton Bank N.A. now owns 27,867 shares of the industrial products company’s stock worth $813,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other 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.