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

Equities researchers at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Friday. The brokerage set a “buy” rating on the industrial products company’s stock.

A number of other research firms have also weighed in on BERY. Royal Bank of Canada raised their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Truist Financial raised their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group raised their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Barclays increased their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

Shares of BERY stock opened at $72.70 on Friday. Berry Global Group has a one year low of $55.24 and a one year high of $73.31. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The company has a 50 day moving average price of $67.51 and a 200 day moving average price of $67.66. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Berry Global Group will post 6.25 EPS for the current year.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently bought and sold shares of BERY. UMB Bank n.a. raised its stake in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Berry Global Group by 463.5% during the 4th 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 last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Berry Global Group during the 3rd quarter valued at $75,000. 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.