Graphic Packaging Holding Company Reaches New 52-Week High After Strong Earnings (GPK)
Graphic Packaging Holding Company (NYSE:GPK) shares hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings, Analyst Ratings Net reports. The stock traded as high as $12.54 and last traded at $12.39, with a volume of 5,465,099 shares. The stock had previously closed at $11.56.
The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $0.13 earnings per share. Graphic Packaging Holding Company’s revenue was down 2.0% compared to the same quarter last year.
GPK has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Graphic Packaging Holding Company from $13.00 to $15.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Graphic Packaging Holding Company in a research note on Monday, April 28th. They now have a $12.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $11.54.
The stock’s 50-day moving average is $11.56 and its 200-day moving average is $10.46. The company has a market cap of $4.069 billion and a P/E ratio of 26.95.
Graphic Packaging Holding Company (NYSE:GPK) is a provider of packaging solutions for a variety of products to food, beverage and other consumer products companies.
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