In a report released today, Adam Josephson from KeyBanc reiterated a Hold rating on Graphic Packaging (NYSE: GPK). The company’s shares opened today at $11.66.
Josephson wrote:
“We have consistently been well below consensus for GPK, which has proven to be accurate; we think it unrealistic to expect much or any organic EBITDA growth for a company whose largest customers can’t grow their volume and are struggling themselves to offset cost inflation. In addition, GPK’s strategy appears to have shifted, from moving toward a cost-based model to trying to tighten its pricing lags; this strikes us as a major change.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.8% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Clearwater Paper.
Graphic Packaging has an analyst consensus of Strong Buy, with a price target consensus of $17.38.
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Based on Graphic Packaging’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $49.4 million. In comparison, last year the company had a net profit of $47.3 million.
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Graphic Packaging Holding Co. provides paper-based packaging solutions for a variety of products to food, beverage and other consumer products companies. It also produces folding cartons, kraft paperboard, coated-recycled boxboard and multi-wall bags.
