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

Graphic Packaging (NYSE:GPK) had its price objective hoisted by Wells Fargo & Company from $21.00 to $24.00 in a report released on Wednesday, Benzinga reports. The firm currently has an underweight rating on the industrial products company’s stock.

GPK has been the topic of a number of other research reports. StockNews.com cut shares of Graphic Packaging from a buy rating to a hold rating in a research report on Thursday, July 11th. Stifel Nicolaus started coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a buy rating and a $35.20 target price for the company. Truist Financial restated a buy rating and set a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a report on Wednesday. Citigroup lowered their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a buy rating for the company in a research note on Monday, July 8th. Finally, Royal Bank of Canada increased their target price on shares of Graphic Packaging from $33.00 to $35.00 and gave the stock an outperform rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $31.15.

Graphic Packaging Trading Down 2.1 %

NYSE GPK opened at $28.92 on Wednesday. The firm has a market capitalization of $8.68 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 5.10 and a beta of 0.84. The business’s 50-day moving average price is $27.38 and its two-hundred day moving average price is $27.07. The company has a current ratio of 1.45, a quick ratio of 0.52 and a debt-to-equity ratio of 1.75. Graphic Packaging has a 12 month low of $20.07 and a 12 month high of $30.66.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. On average, analysts expect that Graphic Packaging will post 2.72 EPS for the current year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s payout ratio is presently 18.10%.

Hedge Funds Weigh In On Graphic Packaging

Large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in shares of Graphic Packaging in the first quarter worth approximately $26,000. Principal Securities Inc. purchased a new stake in Graphic Packaging in the 4th quarter valued at $26,000. OLD Point Trust & Financial Services N A bought a new position in Graphic Packaging during the 4th quarter valued at $27,000. LRI Investments LLC bought a new stake in shares of Graphic Packaging in the 1st quarter worth $38,000. Finally, GAMMA Investing LLC bought a new stake in shares of Graphic Packaging in the 4th quarter worth $44,000. Institutional investors own 99.67% of the company’s stock.

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.