Berry Global Group (NYSE:BERY) Upgraded by StockNews.com to Buy

Berry Global Group (NYSE:BERY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages have also recently issued reports on BERY. Morgan Stanley assumed coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. UBS Group reduced their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Trading Down 0.1 %

NYSE:BERY traded down $0.08 on Thursday, reaching $66.23. 534,683 shares of the company’s stock were exchanged, compared to its average volume of 1,012,646. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The business has a fifty day moving average of $66.05 and a 200-day moving average of $61.84.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. As a group, analysts expect that Berry Global Group will post 7.6 earnings per share for the current year.

Hedge Funds Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FORA Capital LLC purchased a new stake in Berry Global Group in the first quarter valued at approximately $1,492,000. Thompson Investment Management Inc. increased its holdings in shares of Berry Global Group by 74.0% in the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock valued at $6,595,000 after acquiring an additional 46,379 shares during the period. Sei Investments Co. raised its position in Berry Global Group by 8.3% in the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after purchasing an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after purchasing an additional 13,398 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 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.