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

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

BERY has been the topic of several other research reports. Truist Financial lifted their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, January 6th. UBS Group reduced their price target on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada lifted their price objective 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. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Trading Down 2.0 %

NYSE:BERY opened at $69.95 on Wednesday. The firm has a market capitalization of $8.09 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.45 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a fifty day moving average of $67.43 and a 200 day moving average of $67.22. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 4.21% and a return on equity of 26.32%. Berry Global Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. On average, research analysts predict that Berry Global Group will post 6.31 earnings per share for the current year.

Hedge Funds Weigh In On Berry Global Group

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of Berry Global Group during the fourth quarter valued at $35,568,000. State Street Corp boosted its position in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares during the last quarter. Goldentree Asset Management LP bought a new stake in Berry Global Group in the 3rd quarter worth about $24,288,000. Finally, EdgePoint Investment Group Inc. raised its position in Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after buying an additional 336,186 shares during the last quarter. 95.36% of the stock is currently 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.