Bank of America Corp. Lowers Greif Inc. (GEF) to Neutral
Greif Inc. (NYSE:GEF) was downgraded by investment analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.
A number of other research firms have also weighed in on GEF. Wells Fargo & Co. lowered Greif from an “outperform” rating to a “market perform” rating in a research report on Monday. They noted that the move was a valuation call. DA Davidson lowered Greif from a “neutral” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research report on Monday. Finally, Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Greif presently has an average rating of “Hold” and a consensus target price of $43.00.
Shares of Greif (NYSE:GEF) opened at 54.02 on Tuesday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 32.78 and a beta of 1.46. The firm has a 50 day moving average price of $49.02 and a 200 day moving average price of $42.75. Greif has a 52 week low of $23.88 and a 52 week high of $57.97.
Greif (NYSE:GEF) last announced its earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $910.83 million. During the same quarter in the prior year, the company earned $0.60 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. Equities analysts forecast that Greif will post $2.46 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of GEF. State Treasurer State of Michigan increased its stake in shares of Greif by 1.0% in the second quarter. State Treasurer State of Michigan now owns 10,300 shares of the company’s stock valued at $384,000 after buying an additional 100 shares in the last quarter. Societe Generale acquired a new stake in shares of Greif during the second quarter valued at approximately $366,000. Oregon Public Employees Retirement Fund increased its stake in shares of Greif by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 8,599 shares of the company’s stock valued at $320,000 after buying an additional 208 shares in the last quarter. Anchor Capital Advisors LLC increased its stake in shares of Greif by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 24,669 shares of the company’s stock valued at $919,000 after buying an additional 140 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of Greif by 0.4% in the second quarter. Chicago Equity Partners LLC now owns 25,730 shares of the company’s stock valued at $959,000 after buying an additional 90 shares in the last quarter. 45.59% of the stock is owned by institutional investors.
Greif Company Profile
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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