StockNews.com Lowers Greif (NYSE:GEF) to Hold (2024)

Posted by MarketBeat News on Jun 9th, 2024

Greif (NYSE:GEF – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other analysts have also issued reports on GEF. Truist Financial began coverage on shares of Greif in a research report on Thursday, April 18th. They set a “hold” rating and a $71.00 target price for the company. Bank of America boosted their target price on shares of Greif from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Greif from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Greif currently has an average rating of “Hold” and an average price target of $80.25.

Check Out Our Latest Stock Analysis on GEF

Greif Stock Down 0.1 %

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GEF opened at $61.29 on Friday. The firm has a 50 day moving average price of $63.79 and a 200-day moving average price of $64.42. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.53 and a beta of 0.89. Greif has a twelve month low of $60.03 and a twelve month high of $76.00.

Greif (NYSE:GEF – Get Free Report) last announced its earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.30 billion. Greif had a net margin of 5.17% and a return on equity of 15.57%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 earnings per share. Equities research analysts forecast that Greif will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Gary R. Martz bought 1,807 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average price of $68.37 per share, for a total transaction of $123,544.59. Following the completion of the transaction, the vice president now owns 23,100 shares in the company, valued at $1,579,347. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Lawrence A. Hilsheimer bought 14,200 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average price of $67.60 per share, for a total transaction of $959,920.00. Following the completion of the transaction, the chief financial officer now owns 159,076 shares in the company, valued at $10,753,537.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary R. Martz bought 1,807 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were bought at an average price of $68.37 per share, with a total value of $123,544.59. Following the transaction, the vice president now owns 23,100 shares of the company’s stock, valued at approximately $1,579,347. The disclosure for this purchase can be found here. Over the last three months, insiders bought 22,141 shares of company stock worth $1,505,933 and sold 6,000 shares worth $384,620. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Greif

Hedge funds and other institutional investors have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC raised its stake in Greif by 94.6% during 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. Assenagon Asset Management S.A. purchased a new stake in shares of Greif in the fourth quarter valued at $2,943,000. Avantax Advisory Services Inc. raised its stake in shares of Greif by 4.1% in the third quarter. Avantax Advisory Services Inc. now owns 4,445 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 174 shares during the period. Gotham Asset Management LLC raised its stake in shares of Greif by 8.1% in the third quarter. Gotham Asset Management LLC now owns 7,054 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 530 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Greif by 6.4% in the third quarter. AQR Capital Management LLC now owns 402,383 shares of the industrial products company’s stock valued at $26,883,000 after acquiring an additional 24,230 shares during the period. Institutional investors own 45.74% of the company’s stock.

About Greif

(Get Free Report)

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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