Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a note issued to investors on Monday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on BERY. Barclays upped 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Up 0.8 %

Shares of NYSE BERY opened at $71.07 on Monday. 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 stock’s 50-day simple moving average is $69.76 and its 200-day simple moving average is $68.52. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $1.22 EPS. Berry Global Group’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares during the period. Sound Income Strategies LLC lifted its stake in Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after buying an additional 8,622 shares during the last quarter. Hancock Whitney Corp acquired a new position in shares of Berry Global Group during the third quarter valued at $1,065,000. Integrated Investment Consultants LLC bought a new position in shares of Berry Global Group during the third quarter worth about $714,000. Finally, Barclays PLC increased its holdings in shares of Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after acquiring an additional 47,476 shares during the period. 95.36% of the stock is owned by 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.