Berry Global Group Inc (BERY) Receives Consensus Recommendation of “Buy” from Brokerages

Berry Global Group Inc (NYSE:BERY) has received a consensus rating of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $62.57.

A number of brokerages have weighed in on BERY. TheStreet upgraded shares of Berry Global Group from a “c+” rating to a “b” rating in a research report on Monday, November 19th. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Monday, November 19th. ValuEngine upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 target price on the stock. Finally, Citigroup raised their target price on shares of Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 7th.

NYSE BERY opened at $51.44 on Thursday. Berry Global Group has a 1 year low of $40.50 and a 1 year high of $57.18. The company has a current ratio of 1.87, a quick ratio of 1.06 and a debt-to-equity ratio of 3.92. The company has a market cap of $6.64 billion, a P/E ratio of 15.26, a PEG ratio of 1.29 and a beta of 1.03.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, February 1st. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Berry Global Group had a net margin of 5.22% and a return on equity of 33.85%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts expect that Berry Global Group will post 3.86 EPS for the current year.

In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $50.05, for a total value of $500,500.00. Following the sale, the executive vice president now owns 750 shares in the company, valued at $37,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BERY. Meeder Asset Management Inc. bought a new position in shares of Berry Global Group during the fourth quarter valued at $39,000. Cornerstone Advisors Inc. raised its stake in shares of Berry Global Group by 42.6% during the third quarter. Cornerstone Advisors Inc. now owns 900 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 269 shares during the last quarter. Enlightenment Research LLC bought a new position in shares of Berry Global Group during the fourth quarter valued at $57,000. First Hawaiian Bank bought a new position in shares of Berry Global Group during the third quarter valued at $129,000. Finally, Acadian Asset Management LLC bought a new position in shares of Berry Global Group during the fourth quarter valued at $132,000. 95.26% of the stock is owned by hedge funds and other institutional investors.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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