Truist Financial Issues Pessimistic Forecast for Greif (NYSE:GEF) Stock Price

Greif (NYSE:GEF) had its price objective lowered by research analysts at Truist Financial from $72.00 to $71.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 16.61% from the stock’s current price.

A number of other brokerages have also recently weighed in on GEF. Wells Fargo & Company upped their price objective on shares of Greif from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Zacks Research upgraded shares of Greif to a “hold” rating in a report on Monday, August 11th. Finally, Bank of America cut their price objective on shares of Greif from $77.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.80.

Greif Stock Down 0.8%

Shares of NYSE:GEF traded down $0.48 during trading on Monday, hitting $60.89. The stock had a trading volume of 21,804 shares, compared to its average volume of 188,580. Greif has a 12 month low of $48.23 and a 12 month high of $73.16. The company has a market capitalization of $2.89 billion, a PE ratio of 19.35, a PEG ratio of 2.63 and a beta of 1.01. The firm’s fifty day moving average is $66.17 and its 200 day moving average is $59.88. The company has a quick ratio of 1.18, a current ratio of 1.41 and a debt-to-equity ratio of 1.00.

Greif (NYSE:GEF) last announced its earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. Greif had a return on equity of 10.09% and a net margin of 3.52%.The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $740.23 million. During the same quarter in the prior year, the company earned $1.03 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Greif will post 4.11 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ole G. Rosgaard sold 19,248 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $70.00, for a total transaction of $1,347,360.00. Following the completion of the transaction, the chief executive officer directly owned 78,216 shares of the company’s stock, valued at $5,475,120. The trade was a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kimberly Anne Kellermann sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $67.88, for a total transaction of $610,920.00. Following the transaction, the senior vice president directly owned 3,548 shares of the company’s stock, valued at $240,838.24. The trade was a 71.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,741 shares of company stock valued at $4,475,752 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEF. Mercer Global Advisors Inc. ADV boosted its stake in shares of Greif by 27.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,887 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 1,053 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Greif by 25.3% during the 4th quarter. Ameriprise Financial Inc. now owns 298,237 shares of the industrial products company’s stock worth $18,229,000 after acquiring an additional 60,313 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Greif by 5.8% during the 4th quarter. Baird Financial Group Inc. now owns 35,191 shares of the industrial products company’s stock worth $2,151,000 after acquiring an additional 1,934 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Greif by 10.0% during the 4th quarter. Cetera Investment Advisers now owns 9,684 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 882 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Greif during the 4th quarter worth $209,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

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.