Wells Fargo & Company Lowers Graphic Packaging (NYSE:GPK) Price Target to $9.00

Graphic Packaging (NYSE:GPK) had its price target reduced by stock analysts at Wells Fargo & Company from $11.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 1.29% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Robert W. Baird set a $15.00 price objective on Graphic Packaging in a research note on Wednesday, February 4th. UBS Group dropped their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Zacks Research lowered Graphic Packaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a report on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price objective on shares of Graphic Packaging from $13.00 to $10.00 and set a “sector perform” rating for the company in a research report on Friday. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $16.00.

Graphic Packaging Price Performance

Graphic Packaging stock opened at $8.89 on Friday. The firm has a fifty day moving average of $12.75 and a 200-day moving average of $15.60. Graphic Packaging has a 52-week low of $8.78 and a 52-week high of $26.40. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $2.63 billion, a P/E ratio of 6.00 and a beta of 0.65.

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

Insider Activity at Graphic Packaging

In related news, CEO Robbert Rietbroek purchased 44,278 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average price of $11.32 per share, with a total value of $501,226.96. Following the completion of the transaction, the chief executive officer owned 44,278 shares of the company’s stock, valued at $501,226.96. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in Graphic Packaging by 1,267.1% in the fourth quarter. Hsbc Holdings PLC now owns 225,454 shares of the industrial products company’s stock worth $3,418,000 after purchasing an additional 208,962 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Graphic Packaging by 121.8% during the fourth quarter. Corient Private Wealth LLC now owns 29,003 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 15,927 shares during the period. Alpine Global Management LLC bought a new position in shares of Graphic Packaging in the 4th quarter worth about $178,000. Invesco Ltd. lifted its position in shares of Graphic Packaging by 22.1% in the 4th quarter. Invesco Ltd. now owns 1,110,600 shares of the industrial products company’s stock worth $16,726,000 after buying an additional 200,746 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Graphic Packaging by 146.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 67,858 shares of the industrial products company’s stock valued at $1,022,000 after buying an additional 40,369 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Company Profile

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.