Shares of Berry Global Group Inc (NYSE:BERY) have been assigned a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $57.64.
A number of brokerages have recently issued reports on BERY. Atlantic Securities initiated coverage on shares of Berry Global Group in a report on Monday, June 1st. They set an “overweight” rating and a $63.00 price objective for the company. TheStreet upgraded Berry Global Group from a “c+” rating to a “b-” rating in a research note on Monday, July 27th. Jefferies Financial Group increased their price objective on Berry Global Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Robert W. Baird restated a “buy” rating and issued a $60.00 target price on shares of Berry Global Group in a report on Friday, June 12th. Finally, Morgan Stanley increased their price target on Berry Global Group from $34.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd.
In related news, CFO Mark W. Miles sold 52,916 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $54.20, for a total value of $2,868,047.20. Following the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $1,084,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carl J. Rickertsen sold 14,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $54.21, for a total value of $758,940.00. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at $758,940. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,916 shares of company stock valued at $5,214,487. 2.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Berry Global Group by 9.4% during the first quarter. Wells Fargo & Company MN now owns 1,755,950 shares of the industrial products company’s stock worth $59,194,000 after purchasing an additional 150,727 shares during the period. Deutsche Bank AG lifted its position in shares of Berry Global Group by 80.8% during the first quarter. Deutsche Bank AG now owns 136,270 shares of the industrial products company’s stock worth $4,595,000 after acquiring an additional 60,911 shares in the last quarter. CIBC World Markets Inc. boosted its holdings in shares of Berry Global Group by 277.4% in the first quarter. CIBC World Markets Inc. now owns 40,671 shares of the industrial products company’s stock worth $1,371,000 after acquiring an additional 29,894 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Berry Global Group by 2.9% in the first quarter. Geode Capital Management LLC now owns 1,513,782 shares of the industrial products company’s stock worth $51,029,000 after acquiring an additional 43,130 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Berry Global Group by 1.7% during the 1st quarter. Alliancebernstein L.P. now owns 2,606,937 shares of the industrial products company’s stock valued at $87,880,000 after purchasing an additional 42,667 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.
Berry Global Group stock traded down $0.39 during mid-day trading on Friday, reaching $51.17. The stock had a trading volume of 27,991 shares, compared to its average volume of 909,472. The firm has a market capitalization of $6.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.17 and a beta of 1.34. Berry Global Group has a fifty-two week low of $25.00 and a fifty-two week high of $54.98. The stock’s 50-day simple moving average is $52.40 and its 200-day simple moving average is $42.95. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.27 and a current ratio of 1.93.
Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Berry Global Group had a return on equity of 32.39% and a net margin of 5.06%. Berry Global Group’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. On average, research analysts forecast that Berry Global Group will post 4.51 earnings per share for the current fiscal year.
Berry Global Group Company Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.
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