Shares of Glatfelter (NYSE:GLT) have received an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $24.50.

GLT has been the subject of several recent research reports. Zacks Investment Research cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. TheStreet upgraded shares of Glatfelter from a “c” rating to a “b-” rating in a research report on Tuesday, May 2nd. BMO Capital Markets upgraded shares of Glatfelter from a “market perform” rating to an “outperform” rating and upped their target price for the company from $23.00 to $24.00 in a research report on Friday, May 5th. ValuEngine upgraded shares of Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 target price for the company in a research report on Thursday, May 11th. Finally, BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday.

WARNING: This piece was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://theolympiareport.com/2017/08/28/glatfelter-glt-receives-24-50-consensus-price-target-from-brokerages.html.

In other news, Chairman Dante C. Parrini purchased 5,800 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $17.28 per share, with a total value of $100,224.00. Following the acquisition, the chairman now directly owns 128,043 shares of the company’s stock, valued at $2,212,583.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Debenedictis purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $17.62 per share, with a total value of $88,100.00. Following the acquisition, the director now directly owns 57,935 shares in the company, valued at $1,020,814.70. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in shares of Glatfelter by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock worth $104,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can raised its position in shares of Glatfelter by 73.5% in the second quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after buying an additional 2,376 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Glatfelter by 63.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after buying an additional 2,246 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Glatfelter by 10.3% in the second quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after buying an additional 638 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Glatfelter by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after buying an additional 669 shares during the last quarter. 89.36% of the stock is owned by institutional investors.

Glatfelter (NYSE GLT) opened at 16.85 on Friday. Glatfelter has a 52-week low of $16.53 and a 52-week high of $25.59. The firm’s 50-day moving average price is $18.53 and its 200 day moving average price is $20.04. The firm has a market cap of $734.37 million, a price-to-earnings ratio of 79.86 and a beta of 1.31.

Glatfelter (NYSE:GLT) last issued its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.08 by $0.14. The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities research analysts forecast that Glatfelter will post $1.10 EPS for the current year.

About Glatfelter

P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.

Receive News & Ratings for Glatfelter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glatfelter and related companies with Analyst Ratings Network's FREE daily email newsletter.