Greif (NYSE:GEF) Given New $66.00 Price Target at Robert W. Baird

Greif (NYSE:GEF) had its price objective lifted by analysts at Robert W. Baird from $60.00 to $66.00 in a research note issued on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential upside of 4.46% from the stock’s current price.

A number of other brokerages have also recently issued reports on GEF. BMO Capital Markets increased their price objective on shares of Greif from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday. KeyCorp upped their target price on shares of Greif from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, April 5th. Zacks Investment Research lowered shares of Greif from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Monday, May 31st. Finally, Wells Fargo & Company increased their price objective on shares of Greif from $68.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, May 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.17.

GEF stock traded up $1.26 during midday trading on Friday, reaching $63.18. 2,756 shares of the company’s stock traded hands, compared to its average volume of 166,536. Greif has a 52-week low of $31.14 and a 52-week high of $66.03. The company has a market cap of $3.07 billion, a PE ratio of 36.86, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 1.87. The stock’s 50-day moving average is $61.08.

Greif (NYSE:GEF) last announced its earnings results on Tuesday, June 8th. The industrial products company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Greif had a net margin of 2.20% and a return on equity of 15.78%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. Sell-side analysts anticipate that Greif will post 3.7 earnings per share for the current fiscal year.

In related news, VP Gary R. Martz sold 514 shares of Greif stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $61.55, for a total value of $31,636.70. Following the completion of the sale, the vice president now directly owns 8,100 shares in the company, valued at approximately $498,555. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gary R. Martz bought 7,000 shares of the stock in a transaction that occurred on Tuesday, April 6th. The stock was bought at an average price of $59.18 per share, with a total value of $414,260.00. Following the completion of the purchase, the vice president now directly owns 70,260 shares in the company, valued at $4,157,986.80. The disclosure for this purchase can be found here. 13.73% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. The PNC Financial Services Group Inc. boosted its stake in Greif by 8.4% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,556 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 199 shares in the last quarter. Carret Asset Management LLC acquired a new stake in Greif during the 4th quarter valued at approximately $202,000. Zeke Capital Advisors LLC acquired a new stake in Greif during the 1st quarter valued at approximately $210,000. Stifel Financial Corp acquired a new stake in Greif during the 1st quarter valued at approximately $219,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Greif during the 1st quarter valued at approximately $237,000. Institutional investors own 47.06% of the company’s stock.

Greif Company Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.

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