Trading Report: Today, Greif Inc. (GEF) Cut to “Underperform” at DA Davidson

Today, Greif Inc. (GEF) Cut to “Underperform” at DA Davidson

DA Davidson cut shares of Greif Inc. (NYSE:GEF) from a neutral rating to an underperform rating in a report issued on Monday. They currently have $47.00 price target on the stock.

GEF has been the topic of a number of other research reports. Bank of America Corp. upgraded shares of Greif from a neutral rating to a buy rating and set a $52.00 target price on the stock in a report on Tuesday, September 6th. Zacks Investment Research downgraded shares of Greif from a buy rating to a hold rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average price target of $43.67.

Shares of Greif (NYSE:GEF) opened at 53.70 on Monday. The stock has a 50 day moving average of $49.30 and a 200-day moving average of $42.96. The firm has a market capitalization of $2.57 billion, a P/E ratio of 32.58 and a beta of 1.46. Greif has a 52-week low of $23.88 and a 52-week high of $57.97.

Greif (NYSE:GEF) last posted its earnings results on Wednesday, August 31st. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.19. Greif had a net margin of 2.37% and a return on equity of 14.86%. The company had revenue of $845 million for the quarter, compared to analyst estimates of $910.83 million. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. Equities analysts expect that Greif will post $2.46 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEF. Northwestern Mutual Investment Management Company LLC increased its position in Greif by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 4,450 shares of the company’s stock worth $166,000 after buying an additional 18 shares in the last quarter. Chicago Equity Partners LLC increased its position in Greif by 0.4% in the second quarter. Chicago Equity Partners LLC now owns 25,730 shares of the company’s stock worth $959,000 after buying an additional 90 shares in the last quarter. State Treasurer State of Michigan increased its position in Greif by 1.0% in the second quarter. State Treasurer State of Michigan now owns 10,300 shares of the company’s stock worth $384,000 after buying an additional 100 shares in the last quarter. Retirement Systems of Alabama increased its position in Greif by 0.4% in the second quarter. Retirement Systems of Alabama now owns 33,250 shares of the company’s stock worth $1,239,000 after buying an additional 120 shares in the last quarter. Finally, Anchor Capital Advisors LLC increased its position in Greif by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 24,669 shares of the company’s stock worth $919,000 after buying an additional 140 shares in the last quarter. 45.59% of the stock is owned by hedge funds and other institutional investors.

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