Greif Inc. (GEF) Downgraded to “Underperform” at DA Davidson
Greif Inc. (NYSE:GEF) was downgraded by equities research analysts at DA Davidson from a “neutral” rating to an “underperform” rating in a research note issued on Monday.
GEF has been the subject of several other research reports. Bank of America Corp. upgraded Greif from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, September 6th. Zacks Investment Research cut Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.
Shares of Greif (NYSE:GEF) opened at 55.78 on Monday. Greif has a one year low of $23.88 and a one year high of $57.97. The company’s 50-day moving average price is $48.70 and its 200-day moving average price is $42.40. The stock has a market cap of $2.67 billion, a PE ratio of 33.85 and a beta of 1.46.
Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.19. Greif had a return on equity of 14.86% and a net margin of 2.37%. The firm earned $845 million during the quarter, compared to analysts’ expectations of $910.83 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. Equities research analysts anticipate that Greif will post $2.46 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Greif by 11.8% in the second quarter. Principal Financial Group Inc. now owns 98,286 shares of the company’s stock valued at $3,663,000 after buying an additional 10,377 shares during the last quarter. First New York Securities LLC NY raised its stake in shares of Greif by 47.7% in the second quarter. First New York Securities LLC NY now owns 35,876 shares of the company’s stock valued at $1,337,000 after buying an additional 11,591 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Greif by 4,681.6% in the first quarter. JPMorgan Chase & Co. now owns 84,204 shares of the company’s stock valued at $2,758,000 after buying an additional 82,443 shares during the last quarter. Barclays PLC raised its stake in shares of Greif by 1,062.0% in the first quarter. Barclays PLC now owns 53,649 shares of the company’s stock valued at $1,717,000 after buying an additional 49,032 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Greif during the second quarter valued at approximately $1,338,000. 45.59% of the stock is owned by institutional investors.
Greif, Inc is a producer of industrial packaging products and services. The Company’s products include steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems, transit protection products, water bottles and reconditioned industrial containers, and offers services, such as container life cycle management, blending, filling, logistics, warehousing and other packaging services.
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