Graphic Packaging (NYSE:GPK) Price Target Raised to $24.00 at Wells Fargo & Company

Graphic Packaging (NYSE:GPK) had its target price hoisted by Wells Fargo & Company from $21.00 to $24.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 19.73% from the company’s current price.

GPK has been the subject of several other reports. Robert W. Baird upped their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus assumed coverage on Graphic Packaging in a research report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price target for the company. Truist Financial reissued a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research report on Wednesday. Royal Bank of Canada boosted their price target on Graphic Packaging from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Citigroup reduced their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.15.

Graphic Packaging Trading Up 2.8 %

GPK traded up $0.81 during trading hours on Wednesday, reaching $29.90. 1,566,937 shares of the company’s stock traded hands, compared to its average volume of 2,697,959. The firm has a 50-day moving average price of $27.27 and a 200 day moving average price of $27.00. Graphic Packaging has a 52-week low of $20.07 and a 52-week high of $29.98. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $9.19 billion, a PE ratio of 13.52, a PEG ratio of 10.20 and a beta of 0.85.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Graphic Packaging will post 2.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GPK. Capital Insight Partners LLC boosted its stake in shares of Graphic Packaging by 9.8% in the fourth quarter. Capital Insight Partners LLC now owns 31,335 shares of the industrial products company’s stock worth $772,000 after buying an additional 2,800 shares during the last quarter. Benin Management CORP purchased a new stake in shares of Graphic Packaging in the fourth quarter worth about $234,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Graphic Packaging by 102.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,928,197 shares of the industrial products company’s stock worth $121,480,000 after buying an additional 2,498,942 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Graphic Packaging in the fourth quarter worth about $2,896,000. Finally, Moody Aldrich Partners LLC purchased a new stake in shares of Graphic Packaging in the fourth quarter worth about $208,000. 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.