Berry Global Group (BERY) PT Set at $60.00 by Morgan Stanley

Morgan Stanley set a $60.00 target price on Berry Global Group (NYSE:BERY) in a research report report published on Wednesday morning, TipRanks reports. The brokerage currently has a hold rating on the industrial products company’s stock.

BERY has been the topic of several other research reports. BMO Capital Markets lifted their target price on shares of Berry Global Group from $65.00 to $69.00 and gave the stock an outperform rating in a research report on Monday, March 11th. Zacks Investment Research cut shares of Berry Global Group from a buy rating to a hold rating in a research report on Tuesday, February 5th. Finally, Citigroup lifted their target price on shares of Berry Global Group from $59.00 to $60.00 and gave the stock a buy rating in a research report on Monday, January 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $63.33.

Berry Global Group stock opened at $57.53 on Wednesday. Berry Global Group has a 52 week low of $40.50 and a 52 week high of $59.09. The company has a current ratio of 1.87, a quick ratio of 1.06 and a debt-to-equity ratio of 3.92. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 1.49 and a beta of 1.01.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, February 1st. The industrial products company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Berry Global Group had a net margin of 5.22% and a return on equity of 33.85%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Berry Global Group will post 3.85 earnings per share for the current fiscal year.

In related news, EVP Jason K. Greene sold 10,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $57.50, for a total value of $575,000.00. Following the sale, the executive vice president now owns 10,250 shares of the company’s stock, valued at approximately $589,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason K. Greene sold 2,545 shares of Berry Global Group stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $52.50, for a total transaction of $133,612.50. Following the completion of the sale, the executive vice president now directly owns 2,595 shares in the company, valued at approximately $136,237.50. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $2,151,469 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,429,603 shares of the industrial products company’s stock worth $553,077,000 after purchasing an additional 158,823 shares during the period. Vanguard Group Inc raised its holdings in shares of Berry Global Group by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 11,429,603 shares of the industrial products company’s stock worth $553,077,000 after purchasing an additional 158,823 shares during the period. BlackRock Inc. raised its holdings in shares of Berry Global Group by 2.5% in the 4th quarter. BlackRock Inc. now owns 5,606,566 shares of the industrial products company’s stock worth $266,478,000 after purchasing an additional 135,189 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Berry Global Group by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock worth $197,038,000 after purchasing an additional 328,906 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Berry Global Group by 3.3% in the 3rd quarter. Clearbridge Investments LLC now owns 2,621,761 shares of the industrial products company’s stock worth $126,867,000 after purchasing an additional 82,941 shares during the period. 97.34% of the stock is currently owned by institutional investors.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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