Greif Inc. (GEF) Sees Strong Trading Volume
Greif Inc. (NYSE:GEF) shares saw unusually-high trading volume on Tuesday . Approximately 177,186 shares were traded during mid-day 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 research reports. TheStreet upgraded shares of Greif from a “hold” rating to a “buy” rating in a research report on Wednesday, June 8th. Zacks Investment Research upgraded shares of Greif from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Monday, May 2nd. BMO Capital Markets reiterated a “hold” rating and set a $36.00 price target on shares of Greif in a research report on Monday, June 27th. Deutsche Bank AG reiterated a “market perform” rating and set a $36.00 price target on shares of Greif in a research report on Wednesday, June 29th. Finally, Robert W. Baird restated a “neutral” rating and set a $43.00 price objective on shares of Greif in a research report on Tuesday, June 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $39.75.
The stock has a market capitalization of $2.00 billion and a PE ratio of 48.47. The company has a 50 day moving average of $40.08 and a 200-day moving average of $34.82.
Greif (NYSE:GEF) last posted its earnings results on Wednesday, June 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.57 by $0.10. The business had revenue of $839.60 million for the quarter, compared to analysts’ expectations of $836.77 million. The company’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. Equities analysts anticipate that Greif Inc. will post $2.29 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Greif stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Greif Inc. (NYSE:GEF) by 111.7% during the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 approximately 0.11% of Greif worth $1,676,000 at the end of the most recent quarter.
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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