Robert W. Baird Forecasts Strong Price Appreciation for Greif (NYSE:GEF) Stock

Greif (NYSE:GEF) had its price target hoisted by Robert W. Baird from $70.00 to $75.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential upside of 9.89% from the company’s current price.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price objective on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 price target on shares of Greif in a research note on Monday, August 26th. Truist Financial reissued a “hold” rating and set a $67.00 price objective (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Sidoti initiated coverage on shares of Greif in a research note on Wednesday, November 20th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Bank of America lowered their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

Greif Stock Performance

NYSE:GEF opened at $68.25 on Friday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 15.10 and a beta of 0.92. The business has a 50 day moving average of $65.87 and a 200 day moving average of $63.08. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. Greif has a 1-year low of $55.95 and a 1-year high of $73.16.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, December 4th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a return on equity of 11.15% and a net margin of 4.81%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business posted $1.56 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Greif will post 4.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Greif

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its stake in Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock worth $31,000 after buying an additional 228 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Greif in the 2nd quarter worth approximately $64,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Greif by 80.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 561 shares during the period. nVerses Capital LLC bought a new stake in shares of Greif during the second quarter valued at approximately $80,000. Finally, Quest Partners LLC grew its stake in Greif by 27,766.7% in the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 1,666 shares during the period. 45.74% of the stock is owned by hedge funds and other institutional investors.

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.