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

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

A number of other research firms also recently issued reports on BERY. Truist Financial upped their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Finally, UBS Group decreased their price objective 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.22.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $70.73 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 1.15. The firm has a fifty day moving average price of $67.72 and a 200 day moving average price of $63.08. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $70.91.

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

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Berry Global Group by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock worth $1,021,000 after buying an additional 487 shares during the period. State of Michigan Retirement System raised its stake in shares of Berry Global Group by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after acquiring an additional 200 shares in the last quarter. Norden Group LLC purchased a new stake in Berry Global Group during the first quarter valued at approximately $259,000. Leeward Investments LLC MA boosted its stake in Berry Global Group by 4.9% in the first quarter. Leeward Investments LLC MA now owns 173,826 shares of the industrial products company’s stock valued at $10,513,000 after acquiring an additional 8,185 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Berry Global Group by 15.5% in the first quarter. Commonwealth Equity Services LLC now owns 9,711 shares of the industrial products company’s stock worth $587,000 after purchasing an additional 1,302 shares during the last quarter. 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.