Greif (NYSE:GEF) Now Covered by Analysts at Sidoti

Analysts at Sidoti began coverage on shares of Greif (NYSE:GEF) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $93.00 price target on the industrial products company’s stock. Sidoti’s price target would indicate a potential upside of 33.52% from the company’s previous close.

GEF has been the subject of several other reports. Wells Fargo & Company lowered their price objective on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America lowered their target price on Greif from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 30th. Truist Financial reaffirmed a “hold” rating and set a $67.00 target price (down from $69.00) on shares of Greif in a report on Friday, August 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 target price on shares of Greif in a report on Monday, August 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.40.

Greif Stock Down 0.3 %

Shares of Greif stock opened at $69.65 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. The firm has a market cap of $3.29 billion, a P/E ratio of 15.14 and a beta of 0.91. Greif has a fifty-two week low of $55.95 and a fifty-two week high of $71.36. The business has a 50-day moving average price of $63.97 and a 200 day moving average price of $62.56.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.14). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. On average, sell-side analysts forecast that Greif will post 4.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Greif

Several hedge funds and other institutional investors have recently made changes to their positions in GEF. Russell Investments Group Ltd. boosted its position in shares of Greif by 24,865.2% during the first quarter. Russell Investments Group Ltd. now owns 5,742 shares of the industrial products company’s stock worth $396,000 after buying an additional 5,719 shares during the period. ProShare Advisors LLC boosted its position in shares of Greif by 4.6% during the first quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock worth $388,000 after buying an additional 246 shares during the period. Quadrature Capital Ltd boosted its position in shares of Greif by 133.9% during the first quarter. Quadrature Capital Ltd now owns 13,047 shares of the industrial products company’s stock worth $902,000 after buying an additional 7,468 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Greif by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,151 shares of the industrial products company’s stock worth $1,185,000 after buying an additional 886 shares during the period. Finally, Twelve Points Wealth Management LLC lifted its position in Greif by 11.9% in the second quarter. Twelve Points Wealth Management LLC now owns 24,132 shares of the industrial products company’s stock worth $1,387,000 after purchasing an additional 2,559 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.

About Greif

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.