Greif Bros. Corporation (NYSE:GEF) was downgraded by equities research analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research note issued on Friday.

GEF has been the topic of a number of other research reports. Zacks Investment Research upgraded Greif Bros. Corporation from a “sell” rating to a “hold” rating in a research report on Friday, May 26th. KeyCorp restated a “sell” rating and issued a $47.00 price target on shares of Greif Bros. Corporation in a research report on Thursday, June 8th. Robert W. Baird restated an “outperform” rating and issued a $63.00 price target on shares of Greif Bros. Corporation in a research report on Sunday, June 11th. ValuEngine upgraded Greif Bros. Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $55.00 price target on shares of Greif Bros. Corporation in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.50.

Shares of Greif Bros. Corporation (GEF) opened at 60.45 on Friday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 30.10 and a beta of 1.37. Greif Bros. Corporation has a 12-month low of $44.45 and a 12-month high of $63.04. The stock has a 50 day moving average of $56.66 and a 200 day moving average of $56.44.

Greif Bros. Corporation (NYSE:GEF) last issued its quarterly earnings results on Wednesday, August 30th. The industrial products company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. Greif Bros. Corporation had a return on equity of 15.78% and a net margin of 2.65%. The company had revenue of $961.80 million for the quarter, compared to analysts’ expectations of $901.76 million. During the same quarter last year, the business earned $0.91 earnings per share. Greif Bros. Corporation’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Greif Bros. Corporation will post $2.89 earnings per share for the current fiscal year.

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In other Greif Bros. Corporation news, major shareholder Shannon J. Diener bought 5,189 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were purchased at an average price of $62.37 per share, for a total transaction of $323,637.93. Following the completion of the transaction, the insider now directly owns 10,189 shares in the company, valued at approximately $635,487.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 16.79% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEF. Invictus RG boosted its position in Greif Bros. Corporation by 2.5% in the first quarter. Invictus RG now owns 6,409 shares of the industrial products company’s stock worth $353,000 after buying an additional 156 shares in the last quarter. State Treasurer State of Michigan boosted its position in Greif Bros. Corporation by 1.0% in the first quarter. State Treasurer State of Michigan now owns 10,500 shares of the industrial products company’s stock worth $578,000 after buying an additional 100 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Greif Bros. Corporation by 25.3% in the first quarter. OppenheimerFunds Inc. now owns 16,223 shares of the industrial products company’s stock worth $894,000 after buying an additional 3,272 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Greif Bros. Corporation by 44.6% in the first quarter. UBS Asset Management Americas Inc. now owns 17,291 shares of the industrial products company’s stock worth $953,000 after buying an additional 5,335 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Greif Bros. Corporation by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 290,660 shares of the industrial products company’s stock worth $16,015,000 after buying an additional 53,429 shares in the last quarter. Hedge funds and other institutional investors own 47.83% of the company’s stock.

About Greif Bros. Corporation

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.

Analyst Recommendations for Greif Bros. Corporation (NYSE:GEF)

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