Greif Inc. (GEF) Hits New 12-Month High at $43.15
Greif Inc. (NYSE:GEF) shares reached 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 trading hands. The stock had previously closed at $41.77.
A number of research firms have recently weighed in on GEF. Zacks Investment Research downgraded shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. TheStreet raised shares of Greif from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Greif in a report on Monday, June 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of Greif in a report on Tuesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “market perform” rating and issued a $36.00 price objective on shares of Greif in a report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $39.75.
The firm has a market capitalization of $2.03 billion and a P/E ratio of 49.24. The company has a 50-day moving average of $40.40 and a 200-day moving average of $35.00.
Greif (NYSE:GEF) last issued 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. The business had revenue of $839.60 million for the quarter, compared to analyst estimates of $836.77 million. During the same period in the previous year, the business earned $0.53 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. On average, analysts predict that Greif Inc. will post $2.29 earnings per share for the current 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 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 about 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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