Greif (NYSE:GEF)‘s stock had its “sell” rating reissued by stock analysts at KeyCorp in a research note issued on Tuesday. They presently have a $47.00 price target on the industrial products company’s stock. KeyCorp’s price target would suggest a potential downside of 20.00% from the stock’s previous close.
The analysts wrote, “Wednesday, Feb. 28. We are reducing our F1Q18 adj. EBITDA estimate on account of cost inflation, despite continued muted old corrugated container (OCC) costs. We are also reducing our FY18 adj. EBITDA estimate despite a potential substantial OCC benefit compared to its previous guidance. GEF’s FY18 adjusted EPS outlook should get a boost from a lower effective tax rate (thanks to the Tax Act), but we think the EBITDA outlook is less rosy. Key Investment Points Other than a lower tax rate, the one obvious benefit to GEF’s previous FY18 adj. Class A EPS guidance of $3.25-$3.55 should be lower OCC prices. GEF assumed index prices of $113/ton in November, December, and January before rising throughout the rest of its FY18 for an average OCC cost of $152/ton. Rather than rising in February, prices fell in the Southeast by $5/ton, and they’re likely to fall by another $5-10/ton in March.””
A number of other equities analysts have also recently commented on the stock. Bank of America raised shares of Greif from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 price target on shares of Greif in a research note on Wednesday, December 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price target (up from $66.00) on shares of Greif in a research note on Friday, December 8th. DA Davidson raised shares of Greif from a “neutral” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Thursday, December 7th. Finally, Zacks Investment Research lowered shares of Greif from a “hold” rating to a “sell” rating in a report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Greif currently has an average rating of “Hold” and an average price target of $64.00.
Greif (GEF) opened at $58.75 on Tuesday. Greif has a 52 week low of $50.94 and a 52 week high of $65.60. The company has a current ratio of 1.45, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market cap of $2,729.39, a PE ratio of 29.08, a P/E/G ratio of 1.93 and a beta of 1.21.
Greif (NYSE:GEF) last released its quarterly earnings results on Wednesday, December 6th. The industrial products company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Greif had a net margin of 3.26% and a return on equity of 17.06%. The firm had revenue of $968.00 million during the quarter, compared to analysts’ expectations of $931.96 million. During the same period in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. analysts predict that Greif will post 3.4 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Greif by 126.4% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 40,300 shares of the industrial products company’s stock valued at $2,441,000 after buying an additional 22,500 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Greif during the 4th quarter valued at about $3,899,000. Jane Street Group LLC bought a new stake in Greif during the 4th quarter valued at about $354,000. Paloma Partners Management Co lifted its holdings in Greif by 341.8% during the 4th quarter. Paloma Partners Management Co now owns 28,902 shares of the industrial products company’s stock valued at $1,751,000 after buying an additional 22,360 shares in the last quarter. Finally, HBK Investments L P lifted its holdings in Greif by 133.9% during the 4th quarter. HBK Investments L P now owns 83,500 shares of the industrial products company’s stock valued at $5,058,000 after buying an additional 47,800 shares in the last quarter. Institutional investors own 47.39% of the company’s stock.
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Greif Company Profile
Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
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