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

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

A number of other brokerages also recently commented on BERY. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, UBS Group raised their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

BERY opened at $72.15 on Friday. The business has a fifty day moving average of $68.08 and a 200 day moving average of $67.96. The stock has a market cap of $8.35 billion, a P/E ratio of 17.99, a PEG ratio of 1.54 and a beta of 1.15. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $73.31.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 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 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. As a group, sell-side analysts anticipate that Berry Global Group will post 6.25 EPS for the current year.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. lifted its position in shares of Berry Global Group by 2.2% during the third 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 last quarter. State Street Corp raised its stake in shares of Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares in the last quarter. FMR LLC lifted its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares during the last quarter. Geode Capital Management LLC lifted its position in Berry Global Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after acquiring an additional 6,833 shares during the last quarter. Finally, Khrom Capital Management LLC boosted its stake in Berry Global Group by 14.8% in the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after acquiring an additional 210,046 shares in the last quarter. Institutional investors 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.