StockNews.com Initiates Coverage on Berry Global Group (NYSE:BERY)

Stock analysts at StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued on Friday. The brokerage set a “buy” rating on the industrial products company’s stock.

BERY has been the subject of several other reports. Barclays upped their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 1.4 %

BERY stock opened at $71.68 on Friday. Berry Global Group has a 1-year low of $55.24 and a 1-year high of $73.31. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.57 and a beta of 1.15. The business has a 50 day simple moving average of $67.59 and a two-hundred day simple moving average of $67.75.

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

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently bought and sold shares of BERY. UMB Bank n.a. raised its holdings in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after buying an additional 306 shares during the period. Quadrant Capital Group LLC increased its stake in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC increased its stake in Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Berry Global Group in the third quarter worth $75,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.