Posted by ABMN Staff on Jul 19th, 2024
Investment analysts at Raymond James began coverage on shares of Greif (NYSE:GEF – Get Free Report) in a report issued on Friday, Briefing.com reports. The firm set a “market perform” rating on the industrial products company’s stock.
A number of other analysts also recently commented on GEF. Bank of America raised Greif from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $77.00 in a research note on Monday, June 17th. StockNews.com downgraded Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on Greif from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th. Finally, Truist Financial cut their target price on Greif from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Greif currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.
Greif Trading Down 0.8 %
Shares of GEF stock opened at $63.97 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.17 and a current ratio of 1.57. Greif has a 1 year low of $55.95 and a 1 year high of $76.00. The stock has a fifty day moving average of $61.65 and a two-hundred day moving average of $63.05. The firm has a market capitalization of $3.02 billion, a PE ratio of 13.76 and a beta of 0.92.
Greif (NYSE:GEF – Get Free Report) last announced its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Greif had a return on equity of 15.57% and a net margin of 5.17%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Greif will post 4.44 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of GEF. Norges Bank purchased a new position in Greif in the fourth quarter valued at about $10,972,000. Retirement Systems of Alabama grew its stake in Greif by 318.7% in the fourth quarter. Retirement Systems of Alabama now owns 133,169 shares of the industrial products company’s stock valued at $8,735,000 after purchasing an additional 101,363 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Greif by 203.9% in the first quarter. Assenagon Asset Management S.A. now owns 136,325 shares of the industrial products company’s stock valued at $9,413,000 after purchasing an additional 91,461 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Greif by 121.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 69,664 shares of the industrial products company’s stock valued at $4,540,000 after purchasing an additional 38,260 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in Greif by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 78,654 shares of the industrial products company’s stock valued at $5,159,000 after purchasing an additional 38,229 shares in the last quarter. Hedge funds and other institutional investors own 45.74% of the company’s stock.
Greif Company Profile
Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.
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