Truist Financial Has Lowered Expectations for Greif (NYSE:GEF) Stock Price

Greif (NYSE:GEF - Get Free Report) had its target price dropped by Truist Financial from $65.00 to $56.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Truist Financial's price target suggests a potential upside of 5.10% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their target price on shares of Greif from $79.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Greif from $76.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, Robert W. Baird decreased their price target on Greif from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Greif presently has a consensus rating of "Moderate Buy" and an average price target of $75.50.

Greif Price Performance

Shares of GEF stock traded down $0.51 during mid-day trading on Tuesday, reaching $53.29. The company's stock had a trading volume of 22,462 shares, compared to its average volume of 164,732. The firm's 50-day moving average is $54.91 and its two-hundred day moving average is $60.83. The company has a market cap of $2.53 billion, a P/E ratio of 11.79, a PEG ratio of 1.02 and a beta of 0.91. Greif has a 1-year low of $48.23 and a 1-year high of $73.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53.

Greif (NYSE:GEF - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.33). Greif had a net margin of 4.81% and a return on equity of 11.84%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. On average, research analysts predict that Greif will post 4.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark A. Emkes purchased 3,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $55.89 per share, with a total value of $167,670.00. Following the purchase, the director now directly owns 44,257 shares in the company, valued at $2,473,523.73. This trade represents a 7.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Calhoun V. Miller acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $58.50 per share, with a total value of $58,500.00. Following the completion of the purchase, the director now owns 1,000 shares of the company's stock, valued at $58,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.60% of the company's stock.

Hedge Funds Weigh In On Greif

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moran Wealth Management LLC acquired a new stake in shares of Greif in the 4th quarter valued at approximately $2,594,000. Foundry Partners LLC acquired a new stake in Greif in the fourth quarter worth $448,000. William Blair Investment Management LLC boosted its position in shares of Greif by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 535,932 shares of the industrial products company's stock worth $32,756,000 after purchasing an additional 11,210 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Greif by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 568,725 shares of the industrial products company's stock valued at $34,760,000 after buying an additional 44,088 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Greif by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 801,429 shares of the industrial products company's stock valued at $48,983,000 after buying an additional 17,425 shares in the last quarter. 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.