Berry Global Group (NYSE:BERY) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Sunday. The firm set a “buy” rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. Truist Financial upped their price target on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

BERY opened at $72.79 on Friday. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock has a market cap of $8.43 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The business’s 50 day moving average is $68.91 and its 200-day moving average is $68.34.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. On average, analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its stake in Berry Global Group by 9.1% in the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after buying an additional 311 shares in the last quarter. QRG Capital Management Inc. increased its position in Berry Global Group by 14.7% in the third quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 1,151 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Berry Global Group during the 3rd quarter worth approximately $75,000. CWA Asset Management Group LLC acquired a new stake in Berry Global Group during the 3rd quarter worth $376,000. Finally, Atria Investments Inc increased its holdings in Berry Global Group by 4.8% in the third quarter. Atria Investments Inc now owns 42,512 shares of the industrial products company’s stock valued at $2,890,000 after purchasing an additional 1,945 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.