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

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

Several other research firms also recently commented on BERY. Truist Financial lifted 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. UBS Group lifted their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Barclays increased their price objective on 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. Citigroup reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated 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. 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, the company has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Up 1.1 %

Shares of NYSE:BERY opened at $68.84 on Tuesday. The firm has a fifty day moving average of $70.03 and a 200 day moving average of $68.55. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $74.24. 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 firm has a market capitalization of $7.97 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate 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 return on equity of 28.26% and a net margin of 3.99%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 EPS. As a group, research analysts anticipate that Berry Global Group will post 6.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of BERY. UMB Bank n.a. boosted its position 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 acquiring an additional 306 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after buying an additional 165 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of 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 buying an additional 876 shares in the last quarter. Finally, Atlas Capital Advisors Inc. increased its stake in shares of Berry Global Group by 7,390.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.