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

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

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

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $71.68 on Friday. The firm has a market cap of $8.30 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $73.31. The stock’s fifty day moving average price is $67.59 and its 200-day moving average price is $67.75.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. On average, equities research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently modified their holdings of the business. EdgePoint Investment Group Inc. raised its holdings in shares of Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares during the period. State Street Corp raised its holdings in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares during the period. FMR LLC raised its holdings in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Geode Capital Management LLC raised its holdings in shares of Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after buying an additional 6,833 shares during the period. Finally, Khrom Capital Management LLC raised its holdings in shares of Berry Global Group by 14.8% in the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after buying an additional 210,046 shares during the period. 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.