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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a report published on Monday. The firm issued a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on BERY. UBS Group lifted 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 decreased their target price on Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.29.

Read Our Latest Stock Analysis on BERY

Berry Global Group Stock Down 2.8%

Shares of NYSE BERY opened at $67.69 on Monday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a 52 week low of $57.52 and a 52 week high of $74.24. The stock has a market capitalization of $7.84 billion, a P/E ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. The stock’s fifty day moving average is $68.18 and its 200 day moving average is $68.50.

Berry Global Group (NYSE:BERY – Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts forecast that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Berry Global Group

A number of hedge funds have recently made changes to their positions in BERY. Balyasny Asset Management L.P. acquired a new stake in shares of Berry Global Group during the fourth quarter valued at about $105,092,000. Norges Bank acquired a new stake in shares of Berry Global Group during the fourth quarter valued at about $91,526,000. Bank of Nova Scotia acquired a new position in shares of Berry Global Group in the first quarter worth approximately $81,322,000. Magnetar Financial LLC acquired a new position in shares of Berry Global Group in the fourth quarter worth approximately $71,882,000. Finally, AQR Arbitrage LLC acquired a new position in shares of Berry Global Group in the fourth quarter worth approximately $53,950,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Company Profile

(Get Free Report)

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.

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