Berry Global Group (NYSE:BERY) Lifted to “Buy” at StockNews.com

Berry Global Group (NYSE:BERY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other brokerages also recently commented on BERY. Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. UBS Group reduced their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.82.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded down $0.08 during trading hours on Thursday, reaching $66.23. The company’s stock had a trading volume of 534,683 shares, compared to its average volume of 1,012,646. The stock has a market cap of $7.58 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.20 and a beta of 1.15. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The firm has a 50 day moving average price of $66.05 and a 200-day moving average price of $61.84.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company earned $1.90 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts predict that Berry Global Group will post 7.6 EPS for the current year.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently made changes to their positions in the company. Bank of Nova Scotia purchased a new position in shares of Berry Global Group during the 4th quarter valued at approximately $1,291,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Berry Global Group in the fourth quarter valued at about $619,000. First Trust Advisors LP increased its stake in shares of Berry Global Group by 6.3% during the fourth quarter. First Trust Advisors LP now owns 417,789 shares of the industrial products company’s stock worth $28,155,000 after purchasing an additional 24,620 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Berry Global Group by 88.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 24,279 shares of the industrial products company’s stock worth $1,636,000 after purchasing an additional 11,419 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of Berry Global Group by 39.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,033,568 shares of the industrial products company’s stock worth $69,652,000 after purchasing an additional 290,781 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.