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

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

Several other brokerages have also recently issued reports on BERY. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group increased their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Barclays lifted their price target 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. Truist Financial increased their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

BERY opened at $69.25 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a 1-year low of $55.24 and a 1-year high of $74.24. The company has a 50-day moving average of $70.12 and a 200-day moving average of $68.56. The company has a market capitalization of $8.02 billion, a P/E ratio of 17.27, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $1.22 earnings per share. Berry Global Group’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Berry Global Group will post 6.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Berry Global Group

A number of hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. grew 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 worth $1,038,674,000 after buying an additional 336,186 shares in the last quarter. State Street Corp grew its stake in shares of Berry Global Group by 10.4% in 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 in the last quarter. FMR LLC grew its stake in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Berry Global Group by 0.3% during 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. Finally, Khrom Capital Management LLC raised its stake in shares of Berry Global Group by 14.8% during 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 in the last quarter. 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.