Graphic Packaging (NYSE:GPK) Given New $33.00 Price Target at Truist Financial

Graphic Packaging (NYSE:GPK) had its target price hoisted by Truist Financial from $31.00 to $33.00 in a report issued on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus started coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a buy rating and a $35.20 price objective on the stock. StockNews.com lowered Graphic Packaging from a buy rating to a hold rating in a report on Thursday, July 11th. Wells Fargo & Company reaffirmed an underweight rating and issued a $21.00 price objective on shares of Graphic Packaging in a report on Monday, April 1st. Finally, Citigroup lowered their price objective on Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $29.03.

Graphic Packaging Stock Performance

NYSE GPK opened at $27.84 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. Graphic Packaging has a 52-week low of $20.07 and a 52-week high of $29.50. The business’s 50-day moving average price is $27.28 and its 200 day moving average price is $26.87. The firm has a market cap of $8.55 billion, a P/E ratio of 12.60, a P/E/G ratio of 10.21 and a beta of 0.85.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the company posted $0.77 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. On average, equities research analysts expect that Graphic Packaging will post 2.7 earnings per share for the current year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.44%. Graphic Packaging’s payout ratio is 18.10%.

Institutional Investors Weigh In On Graphic Packaging

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raleigh Capital Management Inc. lifted its position in shares of Graphic Packaging by 5.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 8,420 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 436 shares during the period. Clear Harbor Asset Management LLC raised its position in shares of Graphic Packaging by 1.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 33,310 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 506 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Graphic Packaging by 1.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 35,752 shares of the industrial products company’s stock worth $881,000 after purchasing an additional 594 shares during the last quarter. Seelaus Asset Management LLC raised its position in shares of Graphic Packaging by 2.4% during the 4th quarter. Seelaus Asset Management LLC now owns 26,627 shares of the industrial products company’s stock worth $656,000 after purchasing an additional 619 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in shares of Graphic Packaging by 5.6% during the 2nd quarter. OLD National Bancorp IN now owns 13,587 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 716 shares during the last quarter. 99.67% of the stock is currently 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.