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

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Tuesday. The firm issued a buy rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the company. Truist Financial lowered their target price on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average target price of $74.29.

Berry Global Group Trading Down 2.8%

Shares of Berry Global Group stock opened at $67.69 on Tuesday. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group has a 1 year low of $57.52 and a 1 year high of $74.24. The company’s fifty day simple moving average is $67.91 and its 200-day simple moving average is $68.41. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $1.95 earnings per share. As a group, sell-side analysts expect that Berry Global Group will post 6.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BERY. Barclays PLC boosted its stake in Berry Global Group by 87.1% in the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after buying an additional 47,476 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Berry Global Group in the fourth quarter valued at about $2,868,000. Merit Financial Group LLC bought a new position in Berry Global Group in the fourth quarter valued at about $200,000. UMB Bank n.a. raised its position in Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Berry Global Group by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 70,240 shares of the industrial products company’s stock valued at $4,542,000 after purchasing an additional 1,166 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Company Profile

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.