Berry Global Group (NYSE:BERY) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on BERY. Truist Financial lowered their price objective on Berry Global Group from $88.00 to $77.00 in a research report on Friday, May 6th. Citigroup lowered their price objective on Berry Global Group from $90.00 to $87.00 in a research report on Friday, April 8th. Robert W. Baird lowered their price objective on Berry Global Group from $83.00 to $73.00 in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Berry Global Group from $71.00 to $69.00 in a research report on Monday, May 9th. Finally, Wells Fargo & Company lowered their price objective on Berry Global Group from $82.00 to $79.00 and set an overweight rating for the company in a research report on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $77.33.

Shares of BERY opened at $51.92 on Friday. The firm has a market cap of $7.02 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.75 and a beta of 1.25. The stock has a 50 day simple moving average of $56.71 and a two-hundred day simple moving average of $62.18. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.82 and a quick ratio of 1.10. Berry Global Group has a 1 year low of $50.10 and a 1 year high of $74.73.

Berry Global Group (NYSE:BERY – Get Rating) last issued its earnings results on Thursday, May 5th. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Berry Global Group had a return on equity of 28.63% and a net margin of 5.09%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. Berry Global Group’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that Berry Global Group will post 7.27 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. raised its holdings in shares of Berry Global Group by 6.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 6,608,110 shares of the industrial products company’s stock valued at $383,006,000 after acquiring an additional 415,879 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Berry Global Group by 30.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,550,727 shares of the industrial products company’s stock worth $263,760,000 after purchasing an additional 1,053,476 shares during the period. JPMorgan Chase & Co. grew its stake in Berry Global Group by 689.4% in the fourth quarter. JPMorgan Chase & Co. now owns 3,051,892 shares of the industrial products company’s stock worth $225,168,000 after purchasing an additional 2,665,299 shares during the period. Canyon Capital Advisors LLC grew its stake in Berry Global Group by 15.2% in the first quarter. Canyon Capital Advisors LLC now owns 2,840,398 shares of the industrial products company’s stock worth $164,629,000 after purchasing an additional 375,095 shares during the period. Finally, Lyrical Asset Management LP grew its stake in Berry Global Group by 3.7% in the first quarter. Lyrical Asset Management LP now owns 2,473,992 shares of the industrial products company’s stock worth $143,393,000 after purchasing an additional 88,072 shares during the period. Institutional investors own 95.74% of the company’s stock.

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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