Greif Inc. (GEF) Sees Unusually-High Trading Volume
Greif Inc. (NYSE:GEF) saw unusually-high trading volume on Tuesday . Approximately 177,577 shares changed hands during trading, a decline of 9% from the previous session’s volume of 194,455 shares.The stock last traded at $43.24 and had previously closed at $42.81.
GEF has been the topic of several research analyst reports. TheStreet upgraded Greif from a “hold” rating to a “buy” rating in a research note on Wednesday, June 8th. Zacks Investment Research upgraded Greif from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, May 2nd. BMO Capital Markets restated a “hold” rating and issued a $36.00 target price on shares of Greif in a research note on Monday, June 27th. Deutsche Bank AG restated a “market perform” rating and issued a $36.00 target price on shares of Greif in a research note on Wednesday, June 29th. Finally, Robert W. Baird restated a “neutral” rating and issued a $43.00 target price on shares of Greif in a research note on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.75.
The company has a 50 day moving average price of $40.64 and a 200 day moving average price of $35.40. The company has a market cap of $2.06 billion and a PE ratio of 49.83.
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 Zacks’ consensus estimate of $0.57 by $0.10. During the same period in the previous year, the business posted $0.53 EPS. The company earned $839.60 million during the quarter, compared to analysts’ expectations of $836.77 million. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. Analysts expect 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 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 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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