Berry Global Group (NYSE:BERY) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on BERY. Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group raised their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Barclays upped their price target on shares of 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. 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 given a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Up 1.9 %

Shares of NYSE:BERY opened at $69.25 on Tuesday. The company has a market capitalization of $8.02 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.54 and a beta of 1.13. 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’s fifty day simple moving average is $70.12 and its 200-day simple moving average is $68.56. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $74.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Berry Global Group

A number of institutional investors have recently added to or reduced their stakes in BERY. UMB Bank n.a. lifted its stake in shares of 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 worth $42,000 after purchasing an additional 306 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in 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 worth $48,000 after acquiring an additional 165 shares during the period. Steward Partners Investment Advisory LLC grew its position in Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 821 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Berry Global Group by 463.5% during the fourth 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 period. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Berry Global Group by 7,390.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,626 shares in 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.