Greif (GEF) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 6, 2016.
On the company’s financial health, Greif reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 31, 2016. Analyst had a consensus of $0.72. The company had revenue of $845.00 million for the quarter, compared to analysts expectations of $910.83 million. The company’s revenue was down -9.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.
Greif opened for trading at $43.39 and hit $45.739 on the upside on Thursday, eventually ending the session at $45.31, with a gain of 6.29% or 2.68 points. The heightened volatility saw the trading volume jump to 8,36,386 shares. Company has a market cap of $2,165 M.
In a different news, on Jul 11, 2016, Gary R Martz (Executive VP & General Counsel) sold 3,500 shares at $37.80 per share price. According to the SEC, 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.