Berry Global Group (NYSE:BERY) had its target price lifted by equities researchers at Citigroup from $68.00 to $71.00 in a research note issued on Monday, November 20th. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 17.86% from the stock’s previous close.
A number of other brokerages have also issued reports on BERY. BidaskClub lowered shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. UBS began coverage on shares of Berry Global Group in a research report on Tuesday, July 25th. They set a “buy” rating and a $67.00 target price on the stock. Robert W. Baird lifted their price target on shares of Berry Global Group from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. SunTrust Banks reiterated a “buy” rating and set a $65.00 price target on shares of Berry Global Group in a research note on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Berry Global Group has a consensus rating of “Buy” and a consensus price target of $67.82.
Shares of Berry Global Group (NYSE:BERY) traded down $0.11 during mid-day trading on Monday, reaching $60.24. 555,896 shares of the company were exchanged, compared to its average volume of 1,016,641. Berry Global Group has a fifty-two week low of $47.19 and a fifty-two week high of $61.36. The company has a market capitalization of $7,960.87, a price-to-earnings ratio of 19.67, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.77 and a quick ratio of 1.10.
Berry Global Group (NYSE:BERY) last announced its earnings results on Thursday, November 16th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.08. Berry Global Group had a net margin of 4.79% and a return on equity of 58.69%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Berry Global Group’s revenue was up 16.3% compared to the same quarter last year. equities analysts anticipate that Berry Global Group will post 3.45 EPS for the current fiscal year.
In other news, CFO Mark W. Miles sold 10,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.54, for a total value of $585,400.00. Following the sale, the chief financial officer now owns 52,916 shares in the company, valued at approximately $3,097,702.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Curt Begle sold 22,541 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $60.01, for a total transaction of $1,352,685.41. Following the completion of the sale, the president now owns 17,189 shares in the company, valued at approximately $1,031,511.89. The disclosure for this sale can be found here. Insiders sold a total of 44,378 shares of company stock worth $2,648,724 in the last 90 days. 3.11% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC lifted its position in Berry Global Group by 315.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,600 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Berry Global Group during the 2nd quarter worth about $228,000. Oakbrook Investments LLC acquired a new position in Berry Global Group during the 3rd quarter worth about $246,000. Metropolitan Life Insurance Co. NY lifted its position in Berry Global Group by 4.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 8,645 shares of the industrial products company’s stock worth $420,000 after buying an additional 344 shares in the last quarter. Finally, Symphony Asset Management LLC lifted its position in Berry Global Group by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 7,671 shares of the industrial products company’s stock worth $438,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.
Berry Global Group Company Profile
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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