Graphic Packaging Holding Company (GPK) Upgraded to “Buy” by Zacks Investment Research
Graphic Packaging Holding Company (NYSE:GPK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $16.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.83% from the company’s current price.
According to Zacks, “GRAPHIC PACKAGING CORPORATION, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. Graphic Packaging’s customers include some of the most widely recognized companies in the world. “
A number of other analysts also recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $15.50 price target on shares of Graphic Packaging Holding in a report on Friday, September 1st. BidaskClub downgraded shares of Graphic Packaging Holding from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and set a $15.00 price target (up from $14.00) on shares of Graphic Packaging Holding in a report on Friday, July 14th. DA Davidson initiated coverage on shares of Graphic Packaging Holding in a report on Monday, July 10th. They set a “buy” rating and a $17.50 price target on the stock. Finally, KeyCorp reissued a “hold” rating on shares of Graphic Packaging Holding in a report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Graphic Packaging Holding currently has an average rating of “Buy” and a consensus price target of $15.60.
Shares of Graphic Packaging Holding (NYSE:GPK) traded down 0.21% on Thursday, hitting $14.18. 1,913,243 shares of the stock traded hands. Graphic Packaging Holding has a one year low of $12.00 and a one year high of $14.37. The stock has a 50 day moving average of $13.50 and a 200 day moving average of $13.44. The company has a market cap of $4.39 billion, a PE ratio of 26.31 and a beta of 1.16.
Graphic Packaging Holding (NYSE:GPK) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Graphic Packaging Holding had a net margin of 3.98% and a return on equity of 18.22%. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Graphic Packaging Holding will post $0.68 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Graphic Packaging Holding by 3.7% during the first quarter. Vanguard Group Inc. now owns 25,103,563 shares of the industrial products company’s stock valued at $323,083,000 after purchasing an additional 896,031 shares in the last quarter. Boston Partners lifted its holdings in Graphic Packaging Holding by 24.7% during the second quarter. Boston Partners now owns 22,667,228 shares of the industrial products company’s stock valued at $312,354,000 after purchasing an additional 4,496,306 shares in the last quarter. BlackRock Inc. lifted its holdings in Graphic Packaging Holding by 16,552.6% during the first quarter. BlackRock Inc. now owns 14,893,409 shares of the industrial products company’s stock valued at $191,677,000 after purchasing an additional 14,803,973 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Graphic Packaging Holding by 8.4% during the second quarter. JPMorgan Chase & Co. now owns 8,994,618 shares of the industrial products company’s stock valued at $123,946,000 after purchasing an additional 696,161 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Graphic Packaging Holding during the second quarter valued at $116,776,000. 95.00% of the stock is currently owned by institutional investors and hedge funds.
About Graphic Packaging Holding
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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