Truist Financial Reaffirms Hold Rating for Greif (NYSE:GEF)

Greif (NYSE:GEF)‘s stock had its “hold” rating reiterated by research analysts at Truist Financial in a research note issued to investors on Monday,Benzinga reports. They presently have a $65.00 target price on the industrial products company’s stock, down from their prior target price of $71.00. Truist Financial’s price target indicates a potential upside of 18.73% from the stock’s previous close.

Several other equities research analysts have also weighed in on GEF. Robert W. Baird dropped their target price on Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Sidoti began coverage on shares of Greif in a report on Wednesday, November 20th. They issued a “buy” rating and a $93.00 price objective on the stock. Bank of America cut their price objective on shares of Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Greif has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Greif Price Performance

Shares of NYSE:GEF opened at $54.75 on Monday. The company has a market cap of $2.58 billion, a PE ratio of 12.11, a P/E/G ratio of 1.02 and a beta of 0.94. Greif has a fifty-two week low of $53.43 and a fifty-two week high of $73.16. The firm has a 50-day simple moving average of $60.52 and a 200 day simple moving average of $63.01. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26.

Greif (NYSE:GEF) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.33). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%. On average, sell-side analysts anticipate that Greif will post 4.11 EPS for the current year.

Insider Buying and Selling

In other news, EVP Bala Sathyanarayanan sold 748 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $60.21, for a total value of $45,037.08. Following the sale, the executive vice president now owns 32,729 shares in the company, valued at approximately $1,970,613.09. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Lawrence A. Hilsheimer bought 550 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $67.88 per share, with a total value of $37,334.00. Following the completion of the purchase, the chief financial officer now owns 162,151 shares in the company, valued at approximately $11,006,809.88. The trade was a 0.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 6,225 shares of company stock worth $431,731. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Greif

Several hedge funds and other institutional investors have recently bought and sold shares of GEF. Avior Wealth Management LLC bought a new stake in shares of Greif in the fourth quarter valued at about $31,000. Quarry LP bought a new position in Greif during the fourth quarter valued at about $53,000. Quest Partners LLC raised its holdings in Greif by 35.0% in the 3rd quarter. Quest Partners LLC now owns 2,257 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 585 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Greif by 28.2% in the 4th quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 537 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Greif by 7.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 200 shares in the last quarter. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Company Profile

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.