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

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

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. UBS Group lifted their target price 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. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Truist Financial raised their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Seven 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 stock presently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $68.84 on Tuesday. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The firm’s 50-day moving average is $70.03 and its 200 day moving average is $68.55. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CIBRA Capital Ltd bought a new stake in Berry Global Group during the 4th quarter worth approximately $6,593,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Berry Global Group by 142.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,046 shares of the industrial products company’s stock valued at $2,396,000 after purchasing an additional 21,766 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Berry Global Group during the 4th quarter valued at $4,799,000. Forum Financial Management LP bought a new position in Berry Global Group in the 4th quarter worth $259,000. Finally, Toronto Dominion Bank purchased a new stake in Berry Global Group in the 4th quarter worth $3,234,000. 95.36% 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 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.