Berry Global Group (NYSE:BERY) Price Target Raised to $69.00 at SunTrust Banks

Berry Global Group (NYSE:BERY) had its price objective hoisted by SunTrust Banks to $69.00 in a report released on Tuesday, November 21st. SunTrust Banks currently has a buy rating on the industrial products company’s stock. SunTrust Banks also issued estimates for Berry Global Group’s Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $1.04 EPS, Q4 2018 earnings at $0.97 EPS, FY2018 earnings at $3.62 EPS, Q1 2019 earnings at $0.83 EPS, Q2 2019 earnings at $1.03 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.06 EPS and FY2019 earnings at $4.02 EPS.

Several other equities research analysts also recently commented on BERY. UBS initiated coverage on shares of Berry Global Group in a research report on Tuesday, July 25th. They issued a buy rating and a $67.00 price target for the company. BidaskClub downgraded shares of Berry Global Group from a hold rating to a sell rating in a research report on Tuesday, July 25th. Barclays increased their target price on shares of Berry Global Group from $65.00 to $71.00 and gave the stock an overweight rating in a research report on Monday, August 7th. KeyCorp reiterated a hold rating on shares of Berry Global Group in a research report on Friday, August 25th. Finally, Jefferies Group reiterated a buy rating and issued a $67.00 target price on shares of Berry Global Group in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $67.82.

Shares of Berry Global Group (NYSE:BERY) traded down $0.11 during trading hours on Tuesday, reaching $60.24. 555,896 shares of the company were exchanged, compared to its average volume of 1,016,641. The company has a market capitalization of $7,960.87, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. Berry Global Group has a 1 year low of $47.19 and a 1 year high of $61.36. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 5.53.

Berry Global Group (NYSE:BERY) last issued its earnings results on Thursday, November 16th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Berry Global Group had a net margin of 4.79% and a return on equity of 58.69%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. research analysts predict that Berry Global Group will post 3.45 earnings per share for the current fiscal year.

In other Berry Global Group news, President Curt Begle sold 6,397 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $60.04, for a total value of $384,075.88. Following the sale, the president now directly owns 6,397 shares in the company, valued at approximately $384,075.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Miles sold 10,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $58.54, for a total transaction of $585,400.00. Following the completion of the sale, the chief financial officer now owns 52,916 shares in the company, valued at $3,097,702.64. The disclosure for this sale can be found here. Insiders sold a total of 44,378 shares of company stock worth $2,648,724 over the last quarter. 3.11% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in BERY. Acrospire Investment Management LLC lifted its holdings in shares of Berry Global Group by 315.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,600 shares during the period. Tocqueville Asset Management L.P. bought a new position in shares of Berry Global Group during the 2nd quarter worth about $228,000. Oakbrook Investments LLC bought a new position in Berry Global Group during the 3rd quarter valued at about $246,000. Metropolitan Life Insurance Co. NY lifted its holdings in Berry Global Group by 4.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 8,645 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 344 shares during the last quarter. Finally, Symphony Asset Management LLC lifted its holdings in Berry Global Group by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 7,671 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 295 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

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Berry Global Group Company Profile

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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