Bank of America Downgrades Greif (NYSE:GEF) to Underperform

Greif (NYSE:GEF) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday. They currently have a $70.00 price objective on the industrial products company’s stock. Bank of America‘s price target suggests a potential downside of 1.90% from the stock’s current price.

A number of other brokerages have also weighed in on GEF. Truist Financial decreased their price target on shares of Greif from $79.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Zacks Research raised Greif from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded Greif from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company lowered their price target on Greif from $76.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 20th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $73.25.

Greif Trading Down 3.0%

Shares of GEF stock opened at $71.36 on Tuesday. The firm’s 50-day simple moving average is $67.97 and its 200-day simple moving average is $69.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.00. Greif has a 1-year low of $55.75 and a 1-year high of $77.14. The firm has a market cap of $3.29 billion, a P/E ratio of 27.34, a PEG ratio of 0.76 and a beta of 0.76.

Greif (NYSE:GEF) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). Greif had a net margin of 7.27% and a return on equity of 7.50%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Greif’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Greif will post 3.87 EPS for the current year.

Insider Activity

In other news, SVP Timothy Bergwall sold 2,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $73.14, for a total value of $146,280.00. Following the completion of the sale, the senior vice president owned 63,832 shares of the company’s stock, valued at $4,668,672.48. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,000 shares of company stock valued at $412,120 over the last ninety days. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of Greif

A number of institutional investors have recently added to or reduced their stakes in GEF. Caitong International Asset Management Co. Ltd lifted its stake in shares of Greif by 106.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 616 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 317 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Greif by 33.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 689 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 172 shares during the period. Exchange Traded Concepts LLC acquired a new position in Greif in the 4th quarter worth $84,000. Simplex Trading LLC grew its stake in shares of Greif by 399.5% during the fourth quarter. Simplex Trading LLC now owns 1,853 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Man Group plc purchased a new position in Greif in the fourth quarter valued at about $201,000. 45.74% of the stock is owned by hedge funds and other institutional investors.

About Greif

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.