Greif (NYSE:GEF) Now Covered by Truist Financial

Analysts at Truist Financial began coverage on shares of Greif (NYSE:GEF) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $71.00 price target on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 15.71% from the stock’s previous close.

A number of other research firms have also commented on GEF. Wells Fargo & Company upgraded Greif from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $64.00 to $75.00 in a research note on Thursday, January 11th. StockNews.com upgraded Greif from a “hold” rating to a “buy” rating in a report on Monday, January 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.25.

Greif Stock Up 1.0 %

Shares of Greif stock opened at $61.36 on Thursday. Greif has a 12-month low of $59.37 and a 12-month high of $76.00. The stock has a market capitalization of $2.89 billion, a P/E ratio of 10.62, a PEG ratio of 1.59 and a beta of 0.87. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average price of $64.22 and a two-hundred day moving average price of $64.86.

Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, February 28th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $1.07. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Greif had a net margin of 6.53% and a return on equity of 18.65%. Greif’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. Equities analysts expect that Greif will post 3.88 earnings per share for the current year.

Insider Activity at Greif

In other news, Treasurer Anthony John Krabill acquired 745 shares of Greif stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $63.12 per share, for a total transaction of $47,024.40. Following the transaction, the treasurer now owns 1,651 shares of the company’s stock, valued at $104,211.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Greif news, CFO Lawrence A. Hilsheimer bought 11,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $64.40 per share, with a total value of $740,600.00. Following the completion of the purchase, the chief financial officer now directly owns 125,670 shares in the company, valued at approximately $8,093,148. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Anthony John Krabill purchased 745 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average price of $63.12 per share, with a total value of $47,024.40. Following the purchase, the treasurer now owns 1,651 shares of the company’s stock, valued at $104,211.12. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 42,934 shares of company stock worth $2,864,352 and have sold 6,000 shares worth $384,620. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Greif

Hedge funds have recently modified their holdings of the stock. Meritage Portfolio Management lifted its holdings in shares of Greif by 5.3% during the third quarter. Meritage Portfolio Management now owns 3,423 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 173 shares during the period. Avantax Advisory Services Inc. boosted its position in Greif by 4.1% in the third quarter. Avantax Advisory Services Inc. now owns 4,445 shares of the industrial products company’s stock valued at $297,000 after buying an additional 174 shares in the last quarter. Cadence Wealth Management LLC grew its stake in Greif by 5.1% during the fourth quarter. Cadence Wealth Management LLC now owns 3,999 shares of the industrial products company’s stock worth $262,000 after buying an additional 193 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Greif by 4.4% during the third quarter. Atria Wealth Solutions Inc. now owns 4,600 shares of the industrial products company’s stock worth $310,000 after buying an additional 195 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of Greif by 6.8% in the fourth quarter. Kestra Advisory Services LLC now owns 3,402 shares of the industrial products company’s stock valued at $223,000 after acquiring an additional 217 shares during the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

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.