Graphic Packaging (NYSE:GPK) Price Target Increased to $35.00 by Analysts at Royal Bank of Canada

Graphic Packaging (NYSE:GPK) had its price target raised by equities researchers at Royal Bank of Canada from $33.00 to $35.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.12% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird lifted their price objective on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a report on Wednesday. Citigroup dropped their price objective on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Stifel Nicolaus started coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They set a “buy” rating and a $35.20 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.78.

Graphic Packaging Stock Up 1.9 %

Shares of GPK stock traded up $0.54 during trading on Wednesday, reaching $29.63. The company’s stock had a trading volume of 307,363 shares, compared to its average volume of 2,690,086. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.24 and a quick ratio of 0.52. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 10.20 and a beta of 0.85. The stock’s 50-day moving average price is $27.27 and its 200 day moving average price is $27.00. Graphic Packaging has a 1-year low of $20.07 and a 1-year high of $29.74.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was down 6.5% on a year-over-year basis. On average, research analysts anticipate that Graphic Packaging will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Graphic Packaging

Several large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in Graphic Packaging by 2.0% in the second quarter. Commonwealth Equity Services LLC now owns 26,832 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 519 shares in the last quarter. Empirical Finance LLC bought a new position in Graphic Packaging in the second quarter valued at $570,000. Atlas Capital Advisors LLC bought a new position in Graphic Packaging in the second quarter valued at $88,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Graphic Packaging in the second quarter valued at $689,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Graphic Packaging by 14.2% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 151,320 shares of the industrial products company’s stock valued at $3,966,000 after acquiring an additional 18,819 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.