Barclays Begins Coverage on Berry Global Group (NYSE:BERY)

Analysts at Barclays started coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Thursday, The Fly reports. The brokerage set an “equal weight” rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on BERY. Citigroup reduced their target price on shares of Berry Global Group from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Bank of America raised shares of Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research note on Wednesday, November 27th. ValuEngine upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Morgan Stanley restated a “hold” rating and issued a $51.00 price target (up from $49.00) on shares of Berry Global Group in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Berry Global Group has an average rating of “Buy” and a consensus target price of $55.88.

Shares of BERY opened at $47.33 on Thursday. Berry Global Group has a twelve month low of $36.98 and a twelve month high of $59.16. The company has a market cap of $6.09 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.90 and a beta of 1.28. The company has a current ratio of 1.84, a quick ratio of 1.19 and a debt-to-equity ratio of 6.96. The company’s fifty day simple moving average is $46.72 and its 200-day simple moving average is $44.23.

Berry Global Group (NYSE:BERY) last announced its earnings results on Thursday, November 21st. The industrial products company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 29.77%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 47.0% on a year-over-year basis. Analysts predict that Berry Global Group will post 4.1 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia grew its holdings in Berry Global Group by 2.4% during the 2nd quarter. Bank of Nova Scotia now owns 20,488 shares of the industrial products company’s stock worth $1,077,000 after acquiring an additional 488 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Berry Global Group by 6.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,075 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 488 shares in the last quarter. FTB Advisors Inc. grew its holdings in Berry Global Group by 55.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,386 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 497 shares in the last quarter. Cerebellum GP LLC grew its holdings in Berry Global Group by 4.6% during the 4th quarter. Cerebellum GP LLC now owns 11,825 shares of the industrial products company’s stock worth $562,000 after acquiring an additional 515 shares in the last quarter. Finally, Summit X LLC grew its holdings in Berry Global Group by 7.8% during the 3rd quarter. Summit X LLC now owns 7,338 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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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The Fly

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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