Berry Global Group, Inc. (NYSE:BERY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $71.85.

BERY has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of Berry Global Group from $73.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Wells Fargo & Company cut their target price on shares of Berry Global Group from $74.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Citigroup dropped their price target on shares of Berry Global Group from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. Finally, Bank of America boosted their price target on shares of Berry Global Group from $70.00 to $75.00 in a research report on Monday, July 10th.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $54.57, for a total transaction of $763,980.00. Following the sale, the director now directly owns 27,258 shares in the company, valued at $1,487,469.06. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, President William J. Norman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $66.48, for a total value of $598,320.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $54.57, for a total transaction of $763,980.00. Following the transaction, the director now owns 27,258 shares in the company, valued at $1,487,469.06. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Connable Office Inc. boosted its stake in shares of Berry Global Group by 2.5% during the second quarter. Connable Office Inc. now owns 6,481 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 160 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Berry Global Group by 2.5% during the second quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 168 shares during the period. First National Advisers LLC boosted its stake in shares of Berry Global Group by 2.4% during the first quarter. First National Advisers LLC now owns 7,796 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 180 shares during the period. Eqis Capital Management Inc. lifted its stake in Berry Global Group by 1.5% in the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after acquiring an additional 181 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Berry Global Group by 0.3% in the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock worth $4,841,000 after acquiring an additional 222 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Berry Global Group Stock Up 2.7 %

Shares of NYSE:BERY opened at $58.80 on Friday. The company has a 50 day moving average price of $59.85 and a two-hundred day moving average price of $61.20. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.12 and a current ratio of 1.87. Berry Global Group has a 52 week low of $46.71 and a 52 week high of $68.01. The company has a market capitalization of $6.94 billion, a PE ratio of 11.09, a PEG ratio of 0.70 and a beta of 1.20.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.07). The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.42 billion. Berry Global Group had a return on equity of 27.67% and a net margin of 5.05%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.03 EPS. Analysts forecast that Berry Global Group will post 7.27 earnings per share for the current year.

About Berry Global Group

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.