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

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

Several other research firms also recently weighed in on BERY. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada increased their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial upped their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

Berry Global Group stock opened at $71.07 on Monday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm’s 50-day moving average is $69.76 and its two-hundred day moving average is $68.52.

Berry Global Group (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion for 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%. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. Equities analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Institutional Trading of Berry Global Group

A number of institutional investors have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. raised its position in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp grew its stake in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares in the last quarter. FMR LLC raised its holdings in shares of Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Geode Capital Management LLC lifted its position in Berry Global Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock worth $128,691,000 after acquiring an additional 6,833 shares in the last quarter. Finally, Khrom Capital Management LLC boosted its holdings in Berry Global Group by 14.8% in the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock worth $105,413,000 after acquiring an additional 210,046 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Company Profile

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.