Shares of Berry Global Group Inc (NYSE:BERY) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.88.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research report on Wednesday, November 27th. Citigroup lowered their price target on Berry Global Group from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Morgan Stanley reiterated a “hold” rating and issued a $51.00 target price (up from $49.00) on shares of Berry Global Group in a report on Monday, November 25th. Goldman Sachs Group reiterated a “buy” rating and issued a $52.00 target price on shares of Berry Global Group in a report on Thursday, August 22nd. Finally, ValuEngine upgraded Berry Global Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st.
NYSE:BERY opened at $46.53 on Wednesday. Berry Global Group has a one year low of $36.98 and a one year high of $59.16. The company has a debt-to-equity ratio of 6.96, a quick ratio of 1.19 and a current ratio of 1.84. The stock has a market cap of $6.24 billion, a PE ratio of 13.65, a P/E/G ratio of 0.93 and a beta of 1.27. The stock has a 50 day moving average price of $43.67 and a 200 day moving average price of $44.73.
Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.74 by $0.16. Berry Global Group had a return on equity of 29.77% and a net margin of 4.55%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 47.0% on a year-over-year basis. As a group, analysts predict that Berry Global Group will post 4.07 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in BERY. Heritage Wealth Advisors purchased a new position in Berry Global Group in the second quarter valued at $47,000. Usca Ria LLC purchased a new position in Berry Global Group in the third quarter valued at $51,000. FTB Advisors Inc. boosted its holdings in Berry Global Group by 55.9% in the third quarter. FTB Advisors Inc. now owns 1,386 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 497 shares during the period. Captrust Financial Advisors boosted its holdings in Berry Global Group by 10.9% in the second quarter. Captrust Financial Advisors now owns 3,667 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 359 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Berry Global Group in the third quarter valued at $211,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.
About Berry Global Group
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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