Berry Global Group (NYSE:BERY – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $7.20-$7.70 for the period, compared to the consensus EPS estimate of $7.23. The company issued revenue guidance of -.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Berry Global Group from a buy rating to a hold rating and set a $71.00 price objective on the stock. in a research report on Tuesday, February 1st. Citigroup lowered their price objective on Berry Global Group from $90.00 to $87.00 in a research report on Friday, April 8th. Morgan Stanley lifted their price objective on Berry Global Group from $71.00 to $79.00 and gave the company an equal weight rating in a research report on Thursday, January 20th. Truist Financial lowered their price objective on Berry Global Group from $88.00 to $77.00 in a research report on Friday, May 6th. Finally, Credit Suisse Group initiated coverage on Berry Global Group in a research note on Friday, January 28th. They set a hold rating and a $78.00 target price on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $77.18.
NYSE:BERY traded down $0.44 during trading hours on Monday, reaching $53.40. The stock had a trading volume of 11,138 shares, compared to its average volume of 972,785. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.76. Berry Global Group has a 52 week low of $51.40 and a 52 week high of $74.73. The company has a 50 day moving average price of $57.47 and a two-hundred day moving average price of $64.00. The stock has a market capitalization of $7.23 billion, a PE ratio of 9.95, a PEG ratio of 0.74 and a beta of 1.26.
Large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. bought a new stake in Berry Global Group in the 1st quarter worth approximately $38,000. Neo Ivy Capital Management purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $71,000. MetLife Investment Management LLC purchased a new position in shares of Berry Global Group in the 1st quarter worth approximately $156,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $199,000. Finally, Camden Capital LLC purchased a new position in shares of Berry Global Group in the 4th quarter worth approximately $203,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.
About Berry Global Group (Get Rating)
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.
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