StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

Research analysts at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY - Get Free Report) in a report issued on Sunday. The firm set a "buy" rating on the industrial products company's stock.

A number of other equities analysts have also recently commented on BERY. UBS Group lifted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Truist Financial reduced their price objective on Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $75.13.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded down $1.94 during trading hours on Friday, hitting $67.69. The company's stock had a trading volume of 18,809,857 shares, compared to its average volume of 1,401,516. The company has a market cap of $7.84 billion, a PE ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. 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 business has a 50 day moving average price of $68.68 and a two-hundred day moving average price of $68.54. Berry Global Group has a 12-month low of $57.52 and a 12-month high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company posted $1.95 EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. Analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Institutional Trading of Berry Global Group

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock worth $6,931,000 after purchasing an additional 47,476 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Berry Global Group in the third quarter worth approximately $463,000. Tidal Investments LLC lifted its holdings in Berry Global Group by 71.0% during the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company's stock worth $2,129,000 after buying an additional 13,004 shares during the period. Franklin Resources Inc. boosted its position in Berry Global Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company's stock valued at $21,711,000 after acquiring an additional 3,744 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Berry Global Group in the 4th quarter valued at $215,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.