Greif Inc. (GEF) Sees Large Volume Increase
Greif Inc. (NYSE:GEF) saw unusually-high trading volume on Tuesday . Approximately 177,186 shares traded hands during trading, an increase of 16% from the previous session’s volume of 152,234 shares.The stock last traded at $41.91 and had previously closed at $41.94.
GEF has been the subject of a number of recent research reports. Zacks Investment Research downgraded Greif from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 price target on shares of Greif in a research note on Tuesday, June 28th. BMO Capital Markets downgraded Greif from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 9th. Deutsche Bank AG reaffirmed a “market perform” rating and set a $36.00 price target on shares of Greif in a research note on Wednesday, June 29th. Finally, TheStreet raised Greif from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.75.
The company’s 50-day moving average price is $39.94 and its 200 day moving average price is $34.77. The company has a market cap of $2.00 billion and a price-to-earnings ratio of 48.46.
Greif (NYSE:GEF) last released its earnings results on Wednesday, June 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.10. During the same quarter in the previous year, the firm earned $0.53 EPS. The company earned $839.60 million during the quarter, compared to analyst estimates of $836.77 million. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Greif Inc. will post $2.29 earnings per share for the current year.
A hedge fund recently raised its stake in Greif stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Greif Inc. (NYSE:GEF) by 111.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,400 shares of the company’s stock after buying an additional 28,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Greif worth $1,676,000 at the end of the most recent reporting period.
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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