TheStreet downgraded shares of Berry Global Group (NYSE:BERY) from a b rating to a c+ rating in a report issued on Monday.
Several other research firms have also issued reports on BERY. Cfra reaffirmed a buy rating and issued a $57.00 price objective on shares of Berry Global Group in a research note on Thursday, September 6th. Zacks Investment Research raised Berry Global Group from a sell rating to a hold rating in a research note on Monday, October 8th. ValuEngine lowered Berry Global Group from a sell rating to a strong sell rating in a research note on Tuesday, October 9th. Finally, KeyCorp reaffirmed a hold rating on shares of Berry Global Group in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $65.75.
Shares of Berry Global Group stock opened at $45.17 on Monday. Berry Global Group has a 12 month low of $40.50 and a 12 month high of $61.71. The company has a market cap of $5.68 billion, a P/E ratio of 14.71, a PEG ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 4.41, a current ratio of 2.01 and a quick ratio of 1.19.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.09). Berry Global Group had a net margin of 6.15% and a return on equity of 35.88%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company posted $0.93 earnings per share. Berry Global Group’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts predict that Berry Global Group will post 3.35 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Kiwi Wealth Investments Limited Partnership lifted its stake in shares of Berry Global Group by 12.9% during the 2nd quarter. Kiwi Wealth Investments Limited Partnership now owns 17,110 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 1,959 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter worth approximately $565,000. Victory Capital Management Inc. lifted its stake in shares of Berry Global Group by 13.3% during the 2nd quarter. Victory Capital Management Inc. now owns 82,647 shares of the industrial products company’s stock worth $3,797,000 after acquiring an additional 9,688 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Berry Global Group by 61.6% during the 2nd quarter. GSA Capital Partners LLP now owns 53,723 shares of the industrial products company’s stock worth $2,468,000 after acquiring an additional 20,475 shares during the last quarter. Finally, Nicola Wealth Management LTD. bought a new stake in shares of Berry Global Group during the 2nd quarter worth approximately $2,577,000. 93.57% of the stock is owned by hedge funds and other institutional investors.
Berry Global Group Company Profile
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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