Truist Financial Trims Greif (NYSE:GEF) Target Price to $69.00

Greif (NYSE:GEF) had its price objective cut by Truist Financial from $71.00 to $69.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 7.01% from the stock’s current price.

Several other research firms have also recently commented on GEF. Bank of America raised Greif from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $77.00 in a research note on Monday, June 17th. StockNews.com downgraded shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company boosted their target price on shares of Greif from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Greif Stock Up 2.8 %

NYSE:GEF opened at $64.48 on Tuesday. Greif has a one year low of $55.95 and a one year high of $76.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.57 and a quick ratio of 1.17. The company has a market cap of $3.04 billion, a PE ratio of 13.87 and a beta of 0.92. The firm’s 50 day simple moving average is $61.66 and its 200 day simple moving average is $63.04.

Greif (NYSE:GEF) last issued its quarterly earnings results on Wednesday, June 5th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Greif had a return on equity of 15.57% and a net margin of 5.17%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Greif will post 4.4 earnings per share for the current year.

Institutional Investors Weigh In On Greif

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in shares of Greif by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 78,654 shares of the industrial products company’s stock valued at $5,159,000 after acquiring an additional 38,229 shares during the period. Assenagon Asset Management S.A. bought a new position in Greif in the 4th quarter valued at $2,943,000. Teachers Retirement System of The State of Kentucky grew its position in shares of Greif by 82.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,432 shares of the industrial products company’s stock valued at $630,000 after purchasing an additional 4,273 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Greif by 121.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 69,664 shares of the industrial products company’s stock worth $4,540,000 after purchasing an additional 38,260 shares during the period. Finally, Norges Bank purchased a new stake in shares of Greif in the fourth quarter worth $10,972,000. 45.74% of the stock is currently owned by institutional investors.

Greif Company Profile

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.