Robert W. Baird Reiterates “Neutral” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “neutral” rating reaffirmed by equities researchers at Robert W. Baird in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They presently have a $65.00 price target on the industrial products company’s stock, down from their previous price target of $68.00. Robert W. Baird’s target price would indicate a potential upside of 16.24% from the company’s previous close.

A number of other analysts have also recently weighed in on BERY. Mizuho decreased their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Wells Fargo & Company raised their target price on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, December 18th. Finally, UBS Group raised their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average target price of $72.00.

Berry Global Group Trading Down 0.9 %

NYSE BERY opened at $55.92 on Tuesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The firm’s fifty day moving average price is $58.94 and its 200 day moving average price is $61.49. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Berry Global Group has a 12 month low of $53.83 and a 12 month high of $69.93.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. On average, sell-side analysts expect that Berry Global Group will post 7.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan F. Foster acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the acquisition, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC raised its position in Berry Global Group by 2.5% during the second quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock worth $449,000 after acquiring an additional 168 shares during the last quarter. M&T Bank Corp raised its position in Berry Global Group by 2.0% during the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after acquiring an additional 173 shares during the last quarter. Eqis Capital Management Inc. raised its position in Berry Global Group by 1.5% during the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after acquiring an additional 181 shares during the last quarter. Coombe Bender & Co LLC raised its position in Berry Global Group by 3.3% during the third quarter. Coombe Bender & Co LLC now owns 6,225 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 196 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Berry Global Group by 0.3% during the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock worth $4,841,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.