Greif Inc. (GEF) Hits New 12-Month High at $43.15
Greif Inc. (NYSE:GEF)’s share price hit a new 52-week high on Thursday . The company traded as high as $43.15 and last traded at $43.00, with a volume of 421,026 shares traded. The stock had previously closed at $41.77.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Greif from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Monday, May 2nd. Robert W. Baird reissued a “neutral” rating and issued a $43.00 price target on shares of Greif in a report on Tuesday, June 28th. Deutsche Bank AG reissued a “market perform” rating and issued a $36.00 price target on shares of Greif in a report on Wednesday, June 29th. TheStreet raised shares of Greif from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $36.00 price target on shares of Greif in a report on Monday, June 27th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $39.75.
The firm’s 50 day moving average price is $40.24 and its 200 day moving average price is $34.88. The company has a market cap of $2.04 billion and a price-to-earnings ratio of 49.46.
Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, June 8th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.10. The company earned $839.60 million during the quarter, compared to the consensus estimate of $836.77 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Greif’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, analysts anticipate that Greif Inc. will post $2.29 EPS for the current fiscal year.
A hedge fund recently raised its stake in Greif stock. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Greif Inc. (NYSE:GEF) by 111.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 0.11% of Greif worth $1,676,000 as of its most recent SEC filing.
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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