Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other research firms also recently issued reports on BERY. Truist Financial lifted 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. 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Trading Up 1.1 %

Shares of BERY opened at $70.58 on Wednesday. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.17 billion, a P/E ratio of 17.60, a PEG ratio of 1.54 and a beta of 1.13. The firm’s 50-day moving average is $70.29 and its two-hundred day moving average is $68.70.

Berry Global Group (NYSE:BERY) last released its quarterly 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 business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, research analysts predict that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Berry Global Group

A number of hedge funds have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. raised its holdings 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 valued at $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. State Street Corp boosted its holdings 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 worth $260,487,000 after purchasing an additional 360,857 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Berry Global Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after purchasing an additional 6,833 shares during the period. Khrom Capital Management LLC increased its stake in Berry Global Group by 14.8% in the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after purchasing an additional 210,046 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Berry Global Group in the fourth quarter valued at $105,092,000. Institutional investors and hedge funds 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.