Raymond James Initiates Coverage on Berry Global Group (NYSE:BERY)

Raymond James assumed coverage on shares of Berry Global Group (NYSE:BERY) in a report published on Wednesday, Price Targets.com reports. The brokerage issued a market perform rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. Seaport Res Ptn reaffirmed a buy rating on shares of Berry Global Group in a report on Wednesday, October 20th. Robert W. Baird reiterated a buy rating and set a $83.00 price objective on shares of Berry Global Group in a research note on Friday, August 6th. Wells Fargo & Company cut their price objective on Berry Global Group from $80.00 to $78.00 and set an overweight rating for the company in a research note on Thursday, October 14th. Truist started coverage on Berry Global Group in a research note on Monday, September 13th. They set a positive rating and a $85.00 price objective for the company. Finally, Mizuho started coverage on Berry Global Group in a research note on Tuesday, October 12th. They set a neutral rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of Buy and a consensus target price of $79.00.

NYSE BERY opened at $65.16 on Wednesday. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.08 and a beta of 1.34. Berry Global Group has a twelve month low of $48.65 and a twelve month high of $70.90. The company has a current ratio of 1.60, a quick ratio of 1.00 and a debt-to-equity ratio of 2.97. The stock has a 50-day moving average of $64.54 and a 200 day moving average of $65.50.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, November 18th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Berry Global Group had a return on equity of 30.09% and a net margin of 5.29%. Berry Global Group’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Equities analysts predict that Berry Global Group will post 6.06 EPS for the current fiscal year.

In other news, President Curt Begle sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $67.99, for a total value of $951,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. lifted its holdings in Berry Global Group by 0.9% in the second quarter. Letko Brosseau & Associates Inc. now owns 405,085 shares of the industrial products company’s stock valued at $26,420,000 after acquiring an additional 3,810 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Berry Global Group by 8.8% in the second quarter. Geode Capital Management LLC now owns 1,783,498 shares of the industrial products company’s stock valued at $116,319,000 after acquiring an additional 144,380 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Berry Global Group by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 80,913 shares of the industrial products company’s stock valued at $5,277,000 after acquiring an additional 6,142 shares during the last quarter. Millennium Management LLC acquired a new position in Berry Global Group in the first quarter valued at approximately $7,213,000. Finally, Man Group plc lifted its holdings in Berry Global Group by 561.7% in the second quarter. Man Group plc now owns 100,170 shares of the industrial products company’s stock valued at $6,533,000 after acquiring an additional 85,031 shares during the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.

About Berry Global Group

Berry Global Group, Inc engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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