DA Davidson Downgrades Greif to Neutral with Price Target $45.00

Brokerage firm DA Davidson Downgrades its rating on Greif(NYSE:GEF). In a research note issued to the investors, the brokerage major Raises the price-target to $45.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by DA Davidson was issued on Sep 2, 2016.

In a different note, On Jun 9, 2016, BMO Capital said it Downgrades its rating on Greif. The shares have been rated ‘Market Perform’ by the firm.

Greif (GEF) made into the market gainers list on Thursdays trading session with the shares advancing 6.29% or 2.68 points. Due to strong positive momentum, the stock ended at $45.31, which is also near the day’s high of $45.739. The stock began the session at $43.39 and the volume stood at 8,36,386 shares. The 52-week high of the shares is $45.739 and the 52 week low is $23.88. The company has a current market capitalization of $2,165 M and it has 4,77,91,516 shares in outstanding.

Greif(GEF) last announced its earnings results on Jun 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $839.60M. Analysts had an estimated revenue of $836.77M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.57.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, Gary R Martz (Executive VP & General Counsel) sold 3,500 shares at $37.80 per share price.Also, On Mar 15, 2016, Lawrence A. Hilsheimer (CFO) purchased 36,560 shares at $27.28 per share price.On Mar 15, 2016, Peter G Watson (CEO) purchased 3,665 shares at $27.14 per share price, according to the Form-4 filing with the securities and exchange commission.

Greif Inc. is a producer of industrial packaging products and services. The Company’s products include steel fiber and plastic drums rigid intermediate bulk containers closure systems transit protection products water bottles and reconditioned industrial containers and offers services such as container life cycle management blending filling logistics warehousing and other packaging services. The Company operates in four business segments: Rigid Industrial Packaging & Services; Flexible Products & Services; Paper Packaging and Land Management. The Company sells its rigid industrial packaging products to customers in industries such as chemicals paints and pigments food and beverage petroleum industrial coatings agricultural pharmaceutical and mineral among others. The Company has manufacturing facilities located in over 50 countries.

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