Shares of Berry Global Group Inc (NYSE:BERY) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $61.57.
A number of equities research analysts have issued reports on BERY shares. JPMorgan Chase & Co. started coverage on Berry Global Group in a research report on Tuesday, July 16th. They set an “overweight” rating and a $63.00 price target for the company. Bank of America downgraded Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. ValuEngine downgraded Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Wells Fargo & Co started coverage on Berry Global Group in a research report on Wednesday, July 24th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a research report on Monday, July 8th.
Hedge funds have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC grew its position in Berry Global Group by 66.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Berry Global Group in the first quarter worth about $27,000. Heritage Wealth Advisors purchased a new stake in shares of Berry Global Group in the second quarter worth about $47,000. Private Capital Group LLC boosted its position in shares of Berry Global Group by 236.5% in the first quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock worth $56,000 after buying an additional 726 shares during the period. Finally, First Interstate Bank boosted its position in shares of Berry Global Group by 29.6% in the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock worth $81,000 after buying an additional 345 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.
Berry Global Group stock traded down $0.23 during trading on Thursday, hitting $38.97. The company’s stock had a trading volume of 1,748,951 shares, compared to its average volume of 1,564,899. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 1.01 and a beta of 1.17. The stock’s fifty day moving average is $49.85 and its 200 day moving average is $51.80. Berry Global Group has a 1-year low of $38.60 and a 1-year high of $59.16. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88.
Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.03 billion. Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, research analysts anticipate that Berry Global Group will post 3.5 EPS for the current fiscal year.
Berry Global Group Company Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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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