KeyBanc analyst Adam Josephson reiterated a Sell rating on Greif Inc (NYSE: GEF) today and set a price target of $50. The company’s shares opened today at $56.10.
Josephson observed:
“We think the N.A. containerboard market is at peak, and the only question is how quickly margins fall and by how much. As a result of these concerns, we think GEF’s EBITDA is headed downward in FY19 and potentially beyond. The Company will have up to a ~$25 million benefit in FY19 vs. FY18 in its containerboard business from the lagged benefit of the recent containerboard price increase and continued decade-low old corrugated container (OCC) costs, but we nonetheless expect GEF’s EBITDA to decline in FY19 as a result of ongoing pressures on its larger rigid business.”
According to TipRanks.com, Josephson is a 3-star analyst with an average return of 6.7% and a 62.3% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Greif Inc has an analyst consensus of Moderate Sell, with a price target consensus of $52.50.
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Greif Inc’s market cap is currently $3.28B and has a P/E ratio of 18.32. The company has a Price to Book ratio of 3.02.
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Greif, Inc. engages in the production of industrial packaging products and services. It operates through the following segments: Rigid Industrial Packaging and Services, Paper Packaging and Services, Flexible Products and Services, and Land Management.
