Zacks Investment Research Upgrades Graphic Packaging (NYSE:GPK) to Buy

Graphic Packaging (NYSE:GPKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $24.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.84% from the stock’s previous close.

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. “

GPK has been the subject of several other reports. Mizuho boosted their price objective on Graphic Packaging from $25.00 to $27.00 in a report on Friday, February 18th. StockNews.com initiated coverage on Graphic Packaging in a report on Thursday, March 31st. They issued a “hold” rating for the company. KeyCorp lowered Graphic Packaging from a “sector weight” rating to an “underweight” rating and set a $17.00 price objective for the company. in a report on Tuesday, January 18th. The Goldman Sachs Group upped their target price on Graphic Packaging from $26.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, April 6th. Finally, Citigroup upped their target price on Graphic Packaging from $24.00 to $26.00 in a report on Friday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.84.

Shares of NYSE:GPK traded up $0.05 during trading on Wednesday, hitting $21.85. The company’s stock had a trading volume of 2,616,900 shares, compared to its average volume of 2,773,513. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.54 and a current ratio of 1.22. Graphic Packaging has a fifty-two week low of $16.94 and a fifty-two week high of $22.20. The stock’s 50-day moving average price is $20.08 and its two-hundred day moving average price is $19.83. The company has a market capitalization of $6.74 billion, a PE ratio of 31.67, a PEG ratio of 0.42 and a beta of 1.09.

Graphic Packaging (NYSE:GPKGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The industrial products company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Graphic Packaging had a return on equity of 18.75% and a net margin of 2.85%. The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, equities analysts predict that Graphic Packaging will post 1.99 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new position in shares of Graphic Packaging during the 3rd quarter valued at $33,000. Covestor Ltd acquired a new position in shares of Graphic Packaging during the 4th quarter valued at $70,000. Rockefeller Capital Management L.P. increased its position in shares of Graphic Packaging by 30.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,353 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 1,013 shares during the period. Van ECK Associates Corp boosted its stake in shares of Graphic Packaging by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 4,712 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 808 shares in the last quarter. Finally, Fifth Lane Capital LP bought a new stake in shares of Graphic Packaging during the 4th quarter worth $100,000. Hedge funds and other institutional investors own 93.08% of the company’s stock.

Graphic Packaging Company Profile (Get Rating)

Graphic Packaging Holding Company, together with its subsidiaries, provides fiber-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging products, such as folding cartons, cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies; and barrier packaging products that protect against moisture, hot and cold temperature, grease, oil, oxygen, sunlight, insects, and other potential product-damaging factors.

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