Glatfelter Price Target Cut to $31.00 (GLT)
Investment analysts at Deutsche Bank reduced their target price on shares of Glatfelter (NYSE:GLT) from $35.00 to $31.00 in a note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective points to a potential upside of 20.86% from the stock’s previous close.
The analysts wrote, “Despite Q1 weather-related issues in NA and tepid demand in mature markets, companies are apt to see revenues increase from the roll through of pricing initiatives (e.g. containerboard). Cost cutting/restructuring efforts are apt to drive improvement across much of our coverage universe. Recent M&A moves are also expected to drive outsized growth for some stocks. “In this report, we have made additional adjustments for weather-related production issues (IP/RKT) and reduced our PT for Glatfelter from $35 to $31/share due to tempered expectations for uncoated freesheet price increases as well as exposure to Russia/Ukraine end-mkts.”
A number of other analysts have also recently weighed in on GLT. Analysts at Zacks downgraded shares of Glatfelter from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 9th. They now have a $25.30 price target on the stock.
Glatfelter (NYSE:GLT) traded down 0.74% during mid-day trading on Wednesday, hitting $25.56. 68,001 shares of the company’s stock traded hands. Glatfelter has a one year low of $22.12 and a one year high of $32.00. The stock’s 50-day moving average is $28.17 and its 200-day moving average is $28.02. The company has a market cap of $1.103 billion and a price-to-earnings ratio of 16.94.
Glatfelter (NYSE:GLT) last announced its earnings results on Thursday, February 13th. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.22. The company had revenue of $434.80 million for the quarter, compared to the consensus estimate of $448.52 million. During the same quarter last year, the company posted $0.26 earnings per share. Glatfelter’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Glatfelter will post $1.96 earnings per share for the current fiscal year.
P. H. Glatfelter Company (NYSE:GLT) is a manufacturer of specialty papers and fiber-based engineered materials.
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