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

Research analysts at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Thursday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other brokerages also recently commented on BERY. UBS Group boosted their target price 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. Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Price Performance

Berry Global Group stock opened at $67.12 on Thursday. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $74.24. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The stock’s 50 day moving average price is $69.69 and its two-hundred day moving average price is $68.53.

Berry Global Group (NYSE:BERY) last released 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 company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. On average, equities analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC boosted its holdings in Berry Global Group by 26.5% during the 1st quarter. Merit Financial Group LLC now owns 3,913 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 820 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Berry Global Group by 6,996.9% during the first quarter. GAMMA Investing LLC now owns 72,672 shares of the industrial products company’s stock valued at $5,073,000 after purchasing an additional 71,648 shares in the last quarter. CIBRA Capital Ltd purchased a new position in Berry Global Group during the fourth quarter worth about $6,593,000. Wealth Enhancement Advisory Services LLC grew its position in Berry Global Group by 142.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,046 shares of the industrial products company’s stock worth $2,396,000 after purchasing an additional 21,766 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Berry Global Group in the 4th quarter valued at about $4,799,000. 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.