Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

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

A number of other brokerages also recently commented on BERY. Truist Financial cut their price objective on shares of Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. UBS Group upped their price objective 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average price target of $74.29.

Berry Global Group Price Performance

Shares of BERY stock opened at $67.69 on Tuesday. 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 $67.91 and its two-hundred day moving average is $68.41. Berry Global Group has a 12 month low of $57.52 and a 12 month high of $74.24. The company has a market capitalization of $7.84 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.60 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS. Analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in Berry Global Group by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 507 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 203 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Berry Global Group by 89.0% in 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 period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Berry Global Group by 1,101.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 685 shares of the industrial products company’s stock worth $48,000 after buying an additional 628 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after buying an additional 165 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings 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 worth $55,000 after buying an additional 821 shares during the last quarter. Institutional investors and hedge funds 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.