Graphic Packaging Holding Company (GPK) Earns Hold Rating from KeyCorp

KeyCorp restated their hold rating on shares of Graphic Packaging Holding Company (NYSE:GPK) in a research report sent to investors on Tuesday morning. KeyCorp also issued estimates for Graphic Packaging Holding’s Q4 2017 earnings at $0.24 EPS, FY2017 earnings at $0.71 EPS and FY2018 earnings at $0.82 EPS.

“We are raising our estimates for Graphic Packaging (GPK) on account of its recent acquisition of Norgraft Packaging, S.A. (which will contribute ~$4M-$5M of EBITDA in 2018 by our estimate) and the historic decline in U.S. OCC prices in October (we are inclined to attribute the recent strength in the stock to the weakness in OCC prices). Key Investment Points As a result of these two factors, our 4Q17 (and thus 2017) adj. EBITDA estimate is increasing by $13M and our 2018 estimate is increasing by the same $13M. GPK’s average fiber cost is down ~$45/ton since July, and given that GPK buys ~1 million tons of recycled fiber per year, the annualized benefit is $45 million.”,” the firm’s analyst commented.

Several other research firms also recently weighed in on GPK. BMO Capital Markets reaffirmed a buy rating and issued a $15.50 price target on shares of Graphic Packaging Holding in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Graphic Packaging Holding from a hold rating to a sell rating in a research note on Friday, July 14th. DA Davidson reissued a buy rating and set a $16.50 target price (down from $17.50) on shares of Graphic Packaging Holding in a research report on Monday, August 21st. BidaskClub raised shares of Graphic Packaging Holding from a hold rating to a buy rating in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada reissued a buy rating and set a $15.00 target price on shares of Graphic Packaging Holding in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $15.60.

Graphic Packaging Holding (GPK) traded up 0.35% during trading on Tuesday, reaching $14.23. The company’s stock had a trading volume of 1,649,931 shares. The stock’s 50-day moving average is $13.53 and its 200 day moving average is $13.45. Graphic Packaging Holding has a 12 month low of $12.00 and a 12 month high of $14.37. The company has a market cap of $4.41 billion, a P/E ratio of 26.40 and a beta of 1.16.

Graphic Packaging Holding (NYSE:GPK) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Graphic Packaging Holding had a net margin of 3.98% and a return on equity of 18.22%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that Graphic Packaging Holding will post $0.68 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, September 14th. Graphic Packaging Holding’s payout ratio is presently 54.55%.

Several large investors have recently bought and sold shares of GPK. Bank of New York Mellon Corp grew its position in Graphic Packaging Holding by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,246,774 shares of the industrial products company’s stock worth $30,961,000 after purchasing an additional 205,991 shares in the last quarter. American Century Companies Inc. grew its position in Graphic Packaging Holding by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 4,634,520 shares of the industrial products company’s stock worth $63,864,000 after purchasing an additional 644,863 shares in the last quarter. BlackRock Inc. grew its position in Graphic Packaging Holding by 16,552.6% in the 1st quarter. BlackRock Inc. now owns 14,893,409 shares of the industrial products company’s stock worth $191,677,000 after purchasing an additional 14,803,973 shares in the last quarter. Vanguard Group Inc. grew its position in Graphic Packaging Holding by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 25,103,563 shares of the industrial products company’s stock worth $323,083,000 after purchasing an additional 896,031 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Graphic Packaging Holding by 2.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,390,397 shares of the industrial products company’s stock worth $17,895,000 after purchasing an additional 29,761 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

Graphic Packaging Holding Company Profile

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.

Analyst Recommendations for Graphic Packaging Holding (NYSE:GPK)

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