Greif (NYSE:GEF) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Greif (NYSE:GEFGet Rating) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of Greif from an outperform rating to a market perform rating and dropped their price objective for the company from $71.00 to $52.00 in a research report on Friday, May 27th. Wells Fargo & Company increased their price objective on shares of Greif from $71.00 to $73.00 and gave the company an overweight rating in a research report on Monday, June 13th. Finally, Bank of America raised shares of Greif from an underperform rating to a buy rating and increased their price objective for the company from $74.00 to $77.00 in a research report on Friday, March 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $65.00.

Shares of GEF opened at $58.74 on Wednesday. Greif has a fifty-two week low of $53.65 and a fifty-two week high of $72.00. The firm’s 50 day moving average price is $60.69 and its 200 day moving average price is $60.24. The company has a market cap of $2.86 billion, a P/E ratio of 9.96, a PEG ratio of 0.76 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.44 and a debt-to-equity ratio of 1.16.

Greif (NYSE:GEFGet Rating) last announced its earnings results on Wednesday, June 8th. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.70. Greif had a net margin of 5.60% and a return on equity of 28.42%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts forecast that Greif will post 7.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, June 16th. Greif’s payout ratio is 31.19%.

In related news, EVP Bala Sathyanarayanan bought 450 shares of the stock in a transaction dated Thursday, April 7th. The stock was acquired at an average price of $58.76 per share, for a total transaction of $26,442.00. Following the acquisition, the executive vice president now owns 10,828 shares in the company, valued at approximately $636,253.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.59% of the company’s stock.

Several institutional investors have recently modified their holdings of GEF. UBS Asset Management Americas Inc. boosted its holdings in shares of Greif by 15.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 39,853 shares of the industrial products company’s stock valued at $2,575,000 after buying an additional 5,408 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Greif during the 4th quarter worth $30,000. Koshinski Asset Management Inc. boosted its stake in Greif by 52.8% during the 4th quarter. Koshinski Asset Management Inc. now owns 1,780 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 615 shares during the period. Retirement Systems of Alabama boosted its stake in Greif by 214.9% during the 4th quarter. Retirement Systems of Alabama now owns 108,268 shares of the industrial products company’s stock worth $6,536,000 after purchasing an additional 73,889 shares during the period. Finally, Denali Advisors LLC boosted its stake in Greif by 2.4% during the 4th quarter. Denali Advisors LLC now owns 69,294 shares of the industrial products company’s stock worth $4,183,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 46.11% of the company’s stock.

Greif Company Profile (Get Rating)

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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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