Greif (NYSE:GEF) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Greif (NYSE:GEF) had its price objective reduced by equities research analysts at Wells Fargo & Company from $76.00 to $75.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 29.99% from the company’s previous close.

GEF has been the subject of a number of other reports. Sidoti initiated coverage on Greif in a research note on Wednesday, November 20th. They set a “buy” rating and a $93.00 price objective for the company. Truist Financial boosted their target price on shares of Greif from $67.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Robert W. Baird lowered their price target on shares of Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Bank of America reduced their price objective on shares of Greif from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Greif Stock Up 0.8 %

NYSE GEF traded up $0.44 during trading on Monday, reaching $57.70. 6,810 shares of the company’s stock traded hands, compared to its average volume of 161,304. Greif has a 12-month low of $53.42 and a 12-month high of $73.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 1.13. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The company’s 50 day simple moving average is $60.76 and its two-hundred day simple moving average is $63.09.

Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.33). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%. As a group, sell-side analysts forecast that Greif will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling at Greif

In other news, EVP Bala Sathyanarayanan sold 748 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $60.21, for a total transaction of $45,037.08. Following the sale, the executive vice president now owns 32,729 shares of the company’s stock, valued at $1,970,613.09. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Lawrence A. Hilsheimer bought 550 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $67.88 per share, with a total value of $37,334.00. Following the completion of the purchase, the chief financial officer now owns 162,151 shares in the company, valued at approximately $11,006,809.88. This trade represents a 0.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,225 shares of company stock worth $431,731. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEF. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Greif in the 4th quarter valued at about $7,473,000. PharVision Advisers LLC acquired a new position in shares of Greif during the 4th quarter worth approximately $207,000. Voloridge Investment Management LLC lifted its position in shares of Greif by 4.5% during the 4th quarter. Voloridge Investment Management LLC now owns 52,634 shares of the industrial products company’s stock valued at $3,217,000 after buying an additional 2,283 shares in the last quarter. Sovereign s Capital Management LLC purchased a new stake in Greif in the 4th quarter worth $828,000. Finally, Two Sigma Advisers LP raised its position in Greif by 11.6% during the fourth quarter. Two Sigma Advisers LP now owns 7,700 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 800 shares during the period. 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.