Greif (NYSE:GEF) Lifted to “Market Perform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Greif (NYSE:GEF) from an underperform rating to a market perform rating in a research note issued to investors on Tuesday, Benzinga reports. BMO Capital Markets currently has $38.00 price target on the industrial products company’s stock, up from their previous price target of $32.00.

A number of other brokerages have also recently weighed in on GEF. ValuEngine raised Greif from a strong sell rating to a sell rating in a research note on Tuesday, September 1st. Wells Fargo & Company lifted their price objective on Greif from $42.00 to $46.00 and gave the company an overweight rating in a research note on Friday, June 5th. TheStreet raised Greif from a c rating to a b- rating in a research note on Thursday, June 18th. BofA Securities raised Greif from an underperform rating to a buy rating and set a $46.00 price objective for the company in a research note on Monday. Finally, Bank of America upgraded Greif from an underperform rating to a buy rating and set a $46.00 target price for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $39.57.

GEF stock opened at $35.05 on Tuesday. The business has a fifty day moving average of $37.82 and a two-hundred day moving average of $34.08. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 2.13. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. Greif has a 52-week low of $23.65 and a 52-week high of $50.37.

Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, August 26th. The industrial products company reported $0.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.85. Greif had a return on equity of 18.39% and a net margin of 2.82%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was down 13.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Greif will post 3.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a yield of 5.02%. Greif’s dividend payout ratio (DPR) is presently 44.44%.

In related news, SVP Ole G. Rosgaard bought 6,750 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average cost of $36.97 per share, for a total transaction of $249,547.50. Following the completion of the acquisition, the senior vice president now owns 32,245 shares in the company, valued at approximately $1,192,097.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Greif by 19.0% during the 2nd quarter. Principal Financial Group Inc. now owns 93,187 shares of the industrial products company’s stock worth $3,207,000 after buying an additional 14,888 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Greif during the 2nd quarter worth about $212,000. Sequoia Financial Advisors LLC lifted its holdings in Greif by 12.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 39,087 shares of the industrial products company’s stock worth $1,345,000 after buying an additional 4,310 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Greif by 16.3% during the 2nd quarter. AQR Capital Management LLC now owns 16,603 shares of the industrial products company’s stock worth $571,000 after buying an additional 2,330 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Greif during the 2nd quarter worth about $37,000. 46.27% of the stock is owned by institutional investors.

Greif Company Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.

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