Berry Global Group, Inc. (NYSE:BERY) Receives Average Rating of “Hold” from Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several equities analysts recently weighed in on BERY shares. Mizuho reduced their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. UBS Group boosted their target price on Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Wolfe Research started coverage on Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th.

Insiders Place Their Bets

In other news, Director Jonathan F. Foster purchased 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Berry Global Group news, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the transaction, the director now owns 5,728 shares in the company, valued at approximately $335,030.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

A number of hedge funds have recently made changes to their positions in BERY. GAMMA Investing LLC purchased a new stake in Berry Global Group during the fourth quarter valued at about $31,000. First Horizon Advisors Inc. increased its position in shares of Berry Global Group by 69.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 224 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Berry Global Group by 203.7% during the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after buying an additional 436 shares in the last quarter. Quarry LP lifted its position in Berry Global Group by 433.1% in the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Berry Global Group in the third quarter worth approximately $101,000. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

BERY stock opened at $58.86 on Friday. The company has a market capitalization of $6.82 billion, a P/E ratio of 12.66, a PEG ratio of 0.79 and a beta of 1.24. The company has a fifty day moving average price of $58.57 and a 200-day moving average price of $61.45. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $69.93.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, equities analysts expect that Berry Global Group will post 7.38 EPS for the current year.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.