Greif (NYSE:GEF) Given New $68.00 Price Target at Wells Fargo & Company


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Greif (NYSE:GEF) had its price objective upped by Wells Fargo & Company from $63.00 to $68.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 19.87% from the company’s current price.

Several other equities analysts also recently weighed in on the company. KeyCorp lifted their target price on Greif from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday. BMO Capital Markets boosted their price objective on Greif from $53.00 to $64.00 in a research report on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.60.

NYSE GEF opened at $56.73 on Thursday. The company has a market cap of $2.75 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.30 and a quick ratio of 1.01. The stock has a 50-day moving average of $54.40 and a two-hundred day moving average of $47.79. Greif has a 1-year low of $26.50 and a 1-year high of $61.46.

Greif (NYSE:GEF) last released its earnings results on Wednesday, February 24th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.08. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Greif had a return on equity of 16.08% and a net margin of 2.41%. On average, analysts anticipate that Greif will post 3.46 EPS for the current fiscal year.

In related news, SVP Timothy Bergwall sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $57.30, for a total transaction of $85,950.00. Following the completion of the sale, the senior vice president now owns 26,228 shares in the company, valued at $1,502,864.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gary R. Martz bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 6th. The shares were acquired at an average price of $59.18 per share, with a total value of $414,260.00. Following the purchase, the vice president now owns 70,260 shares of the company’s stock, valued at $4,157,986.80. The disclosure for this purchase can be found here. Insiders own 13.57% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GEF. First Trust Advisors LP lifted its stake in Greif by 60.3% during the first quarter. First Trust Advisors LP now owns 55,489 shares of the industrial products company’s stock worth $2,289,000 after purchasing an additional 20,881 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Greif by 7.5% in the third quarter. UBS Asset Management Americas Inc. now owns 36,287 shares of the industrial products company’s stock valued at $1,314,000 after buying an additional 2,517 shares during the last quarter. AQR Capital Management LLC lifted its stake in Greif by 2,989.6% in the third quarter. AQR Capital Management LLC now owns 512,961 shares of the industrial products company’s stock valued at $18,574,000 after buying an additional 496,358 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in Greif by 26.2% in the third quarter. Point72 Hong Kong Ltd now owns 3,202 shares of the industrial products company’s stock valued at $116,000 after buying an additional 665 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Greif in the third quarter valued at approximately $278,000. Hedge funds and other institutional investors own 45.46% of the company’s stock.

About Greif

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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