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

Equities researchers at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued on Thursday. The firm set a “buy” rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on BERY. Truist Financial boosted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. UBS Group lifted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $65.00 on Thursday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The stock has a 50 day moving average price of $69.80 and a 200-day moving average price of $68.57. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Berry Global Group has a one year low of $55.24 and a one year high of $74.24.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BERY. Y Intercept Hong Kong Ltd acquired a new stake in shares of Berry Global Group during the third quarter worth $440,000. Public Employees Retirement System of Ohio grew its holdings in Berry Global Group by 8.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,785 shares of the industrial products company’s stock valued at $3,792,000 after buying an additional 4,458 shares during the period. Barclays PLC increased its stake in shares of Berry Global Group by 87.1% during the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after acquiring an additional 47,476 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 173 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other 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.