StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

Stock analysts at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a note issued to investors on Sunday. The firm set a “buy” rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial cut their price target on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. 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 research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average target price of $75.13.

Berry Global Group Stock Performance

Shares of BERY opened at $67.69 on Friday. Berry Global Group has a 52 week low of $57.52 and a 52 week high of $74.24. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. The business has a 50-day simple moving average of $68.84 and a two-hundred day simple moving average of $68.57.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm posted $1.95 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that Berry Global Group will post 6.25 EPS for the current year.

Hedge Funds Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in shares of Berry Global Group by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 507 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 203 shares during the last quarter. UMB Bank n.a. raised its position in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Berry Global Group by 28.8% in the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 821 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 876 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.