Royal Bank Of Canada Cuts Graphic Packaging (NYSE:GPK) Price Target to $10.00

Graphic Packaging (NYSE:GPK) had its price target dropped by equities research analysts at Royal Bank Of Canada from $13.00 to $10.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 10.86% from the stock’s previous close.

Several other equities research analysts also recently issued reports on GPK. Robert W. Baird set a $15.00 price objective on shares of Graphic Packaging in a research note on Wednesday, February 4th. UBS Group reduced their price target on shares of Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Citigroup decreased their price target on shares of Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a report on Monday, December 29th. Finally, Wells Fargo & Company reduced their target price on shares of Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 4th. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Graphic Packaging has a consensus rating of “Reduce” and a consensus target price of $16.00.

Graphic Packaging Stock Performance

NYSE:GPK traded down $0.34 during mid-day trading on Friday, hitting $9.02. 2,647,837 shares of the company’s stock traded hands, compared to its average volume of 6,798,061. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 6.11 and a beta of 0.65. The firm has a 50 day moving average of $12.90 and a two-hundred day moving average of $15.74. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50. Graphic Packaging has a 12 month low of $8.99 and a 12 month high of $26.40.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The company had revenue of $2.10 billion for the quarter. On average, equities analysts forecast that Graphic Packaging will post 2.47 earnings per share for the current fiscal year.

Insider Activity

In other Graphic Packaging news, CEO Robbert Rietbroek acquired 44,278 shares of Graphic Packaging stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $11.32 per share, with a total value of $501,226.96. Following the acquisition, the chief executive officer owned 44,278 shares of the company’s stock, valued at approximately $501,226.96. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Graphic Packaging

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPK. Quarry LP lifted its stake in Graphic Packaging by 282.0% during the third quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Graphic Packaging by 13,971.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,956 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Graphic Packaging in the 3rd quarter valued at approximately $31,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Graphic Packaging by 649.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,039 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,767 shares in the last quarter. Finally, Operose Advisors LLC acquired a new position in shares of Graphic Packaging in the 2nd quarter worth approximately $42,000. Institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.