P H Glatfelter (GLT) Price Target Lowered to $19.00 at DA Davidson

P H Glatfelter (NYSE:GLT) had its target price cut by analysts at DA Davidson to $19.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. DA Davidson’s price target would indicate a potential upside of 25.85% from the company’s previous close.

Other research analysts have also issued research reports about the company. ValuEngine upgraded P H Glatfelter from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Sidoti raised their price objective on P H Glatfelter from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. BMO Capital Markets raised their price objective on P H Glatfelter from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research lowered P H Glatfelter from a “hold” rating to a “strong sell” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. P H Glatfelter has an average rating of “Hold” and a consensus target price of $24.00.

GLT stock traded up $0.67 during midday trading on Wednesday, reaching $15.10. The stock had a trading volume of 584,278 shares, compared to its average volume of 262,460. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.99 and a current ratio of 1.79. The firm has a market capitalization of $812.98 million, a P/E ratio of 13.01, a PEG ratio of 4.24 and a beta of 1.17. P H Glatfelter has a 52-week low of $14.42 and a 52-week high of $23.85.

Several institutional investors and hedge funds have recently modified their holdings of the business. First Interstate Bank increased its stake in shares of P H Glatfelter by 29.8% in the 2nd quarter. First Interstate Bank now owns 13,210 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 3,035 shares during the last quarter. Strs Ohio increased its stake in shares of P H Glatfelter by 9.7% in the 2nd quarter. Strs Ohio now owns 44,000 shares of the basic materials company’s stock worth $861,000 after acquiring an additional 3,900 shares during the last quarter. Legal & General Group Plc increased its stake in shares of P H Glatfelter by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 92,616 shares of the basic materials company’s stock worth $1,809,000 after acquiring an additional 4,878 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of P H Glatfelter by 12.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 45,442 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 5,083 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of P H Glatfelter by 182.5% in the 1st quarter. UBS Group AG now owns 8,192 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 5,292 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

About P H Glatfelter

P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells specialty papers and engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.

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