Greif (NYSE:GEF) Cut to “Neutral” at Bank of America

Greif (NYSE:GEF) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Briefing.com reports. They presently have a $77.00 price target on the industrial products company’s stock. Bank of America‘s price objective would indicate a potential upside of 10.87% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Greif from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Wednesday, August 18th. KeyCorp increased their price objective on Greif from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, September 3rd. Finally, BMO Capital Markets increased their price objective on Greif from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.00.

GEF opened at $69.45 on Thursday. Greif has a one year low of $39.45 and a one year high of $69.75. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.24 and a beta of 1.08. The stock’s 50 day moving average price is $64.34 and its 200-day moving average price is $61.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.89 and a current ratio of 1.26.

Greif (NYSE:GEF) last announced its quarterly earnings data on Tuesday, August 31st. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.39. Greif had a return on equity of 19.67% and a net margin of 6.43%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Greif’s revenue was up 37.7% compared to the same quarter last year. As a group, analysts predict that Greif will post 5.27 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GEF. Perkins Coie Trust Co purchased a new stake in shares of Greif during the 2nd quarter valued at $33,000. Meeder Asset Management Inc. lifted its holdings in shares of Greif by 294.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 920 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 687 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Greif by 157.3% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,068 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 653 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Greif during the 3rd quarter valued at $75,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Greif during the 2nd quarter valued at $76,000. 46.54% of the stock is currently owned by institutional investors and hedge funds.

About Greif

Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Rigid Industrial Packaging and Services, Paper Packaging and Services, Flexible Products and Services, and Land Management. The Rigid Industrial Packaging and Services segment involves the production and sale of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, blending, filling and other packaging services, logistics and warehousing.

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