Berry Global Group (NYSE:BERY) Hits New 52-Week Low at $40.43

Berry Global Group Inc (NYSE:BERY)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $40.43 and last traded at $40.56, with a volume of 3428 shares changing hands. The stock had previously closed at $41.08.

A number of brokerages have recently weighed in on BERY. Bank of America lowered Berry Global Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. TheStreet lowered Berry Global Group from a “b” rating to a “c+” rating in a research note on Tuesday, July 30th. Wells Fargo & Co began coverage on Berry Global Group in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 target price for the company. ValuEngine lowered Berry Global Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. began coverage on Berry Global Group in a research note on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.57.

The business’s fifty day moving average price is $50.30. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.10). The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.03 billion. Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. Berry Global Group’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. On average, equities analysts predict that Berry Global Group Inc will post 3.5 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC raised its position in shares of Berry Global Group by 66.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 200 shares during the period. Icon Wealth Partners LLC acquired a new stake in Berry Global Group in the 1st quarter valued at approximately $27,000. Heritage Wealth Advisors acquired a new stake in Berry Global Group in the 2nd quarter valued at approximately $47,000. Private Capital Group LLC raised its position in Berry Global Group by 236.5% in the 1st quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock valued at $56,000 after buying an additional 726 shares during the last quarter. Finally, First Interstate Bank raised its position in Berry Global Group by 29.6% in the 1st quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 95.17% of the company’s stock.

About Berry Global Group (NYSE:BERY)

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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