Berry Global Group (BERY) Upgraded by ValuEngine to “Sell”

Berry Global Group (NYSE:BERY) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.

A number of other research analysts also recently weighed in on the company. TheStreet downgraded Berry Global Group from a “b” rating to a “c+” rating in a research note on Monday. Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Cfra reissued a “buy” rating and issued a $57.00 price target on shares of Berry Global Group in a research note on Thursday, September 6th. Finally, KeyCorp reissued a “hold” rating on shares of Berry Global Group in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Berry Global Group has a consensus rating of “Buy” and an average price target of $65.75.

Shares of BERY stock traded up $1.55 during trading hours on Thursday, reaching $45.17. The company had a trading volume of 966,800 shares, compared to its average volume of 1,306,968. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 4.41. The company has a market cap of $5.68 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. Berry Global Group has a 1-year low of $40.50 and a 1-year high of $61.71.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.09). The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Berry Global Group had a net margin of 6.15% and a return on equity of 35.88%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. Research analysts anticipate that Berry Global Group will post 3.35 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Canyon Capital Advisors LLC raised its stake in Berry Global Group by 22.9% during the 2nd quarter. Canyon Capital Advisors LLC now owns 7,910,280 shares of the industrial products company’s stock worth $363,398,000 after buying an additional 1,471,850 shares during the period. BlackRock Inc. raised its stake in Berry Global Group by 1.9% during the 2nd quarter. BlackRock Inc. now owns 5,502,126 shares of the industrial products company’s stock worth $252,768,000 after buying an additional 104,660 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Berry Global Group by 4.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,816,667 shares of the industrial products company’s stock worth $184,689,000 after buying an additional 151,277 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Berry Global Group by 8.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,614,487 shares of the industrial products company’s stock worth $74,170,000 after buying an additional 130,530 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Berry Global Group by 22.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,614,470 shares of the industrial products company’s stock worth $74,168,000 after buying an additional 295,950 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

About Berry Global Group

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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