Zacks Investment Research upgraded shares of Graphic Packaging Holding Company (NYSE:GPK) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
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. “
Several other research firms have also recently weighed in on GPK. BMO Capital Markets reaffirmed a buy rating and set a $15.50 target price on shares of Graphic Packaging Holding in a research note on Friday, September 1st. DA Davidson reaffirmed a buy rating and set a $16.50 target price (down previously from $17.50) on shares of Graphic Packaging Holding in a research note on Monday, August 21st. BidaskClub raised Graphic Packaging Holding from a hold rating to a buy rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $14.00 target price on shares of Graphic Packaging Holding in a research note on Wednesday, June 14th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $15.60.
Shares of Graphic Packaging Holding (NYSE:GPK) opened at 13.17 on Tuesday. The firm has a market capitalization of $4.08 billion, a PE ratio of 24.43 and a beta of 1.15. The company has a 50 day moving average of $13.21 and a 200 day moving average of $13.34. Graphic Packaging Holding has a 52-week low of $12.00 and a 52-week high of $14.19.
Graphic Packaging Holding (NYSE:GPK) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Graphic Packaging Holding had a return on equity of 18.22% and a net margin of 3.98%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts anticipate that Graphic Packaging Holding will post $0.68 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.075 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.28%. Graphic Packaging Holding’s payout ratio is 54.55%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of Graphic Packaging Holding by 1.6% in the 2nd quarter. Van ECK Associates Corp now owns 7,630 shares of the industrial products company’s stock valued at $105,000 after buying an additional 117 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Graphic Packaging Holding by 1.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 8,039 shares of the industrial products company’s stock valued at $103,000 after buying an additional 116 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Graphic Packaging Holding by 124.0% in the 1st quarter. Fifth Third Bancorp now owns 10,082 shares of the industrial products company’s stock valued at $130,000 after buying an additional 5,582 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Graphic Packaging Holding in the 1st quarter valued at approximately $104,000. Finally, Eagle Boston Investment Management Inc. grew its stake in shares of Graphic Packaging Holding by 1.5% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 10,773 shares of the industrial products company’s stock valued at $148,000 after buying an additional 163 shares in the last quarter. 95.06% of the stock is owned by institutional investors and hedge funds.
About Graphic Packaging Holding
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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