Brokerages Set Berry Global Group Inc (BERY) Target Price at $63.38

Berry Global Group Inc (NYSE:BERY) has been given a consensus recommendation of “Buy” by the thirteen research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $63.38.

BERY has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Zacks Investment Research cut Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price target for the company. Finally, Citigroup upped their price target on Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 7th.

In related news, EVP Jason K. Greene sold 10,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the executive vice president now owns 10,250 shares in the company, valued at approximately $563,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason K. Greene sold 2,545 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $52.50, for a total value of $133,612.50. Following the completion of the sale, the executive vice president now owns 2,595 shares in the company, valued at approximately $136,237.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,576,469. 1.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. Norges Bank bought a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $62,691,000. Anchor Bolt Capital LP increased its holdings in Berry Global Group by 124.9% in the 4th quarter. Anchor Bolt Capital LP now owns 2,240,092 shares of the industrial products company’s stock valued at $106,472,000 after purchasing an additional 1,244,171 shares during the last quarter. Canyon Capital Advisors LLC increased its holdings in Berry Global Group by 9.6% in the 3rd quarter. Canyon Capital Advisors LLC now owns 8,670,022 shares of the industrial products company’s stock valued at $419,542,000 after purchasing an additional 759,742 shares during the last quarter. Millennium Management LLC increased its holdings in Berry Global Group by 70.8% in the 4th quarter. Millennium Management LLC now owns 1,670,155 shares of the industrial products company’s stock valued at $79,382,000 after purchasing an additional 692,030 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Berry Global Group by 130.4% in the 3rd quarter. Marshall Wace LLP now owns 633,510 shares of the industrial products company’s stock valued at $30,656,000 after purchasing an additional 358,588 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Shares of BERY stock traded up $0.54 during trading hours on Friday, reaching $58.16. The stock had a trading volume of 53,199 shares, compared to its average volume of 1,286,475. The company has a quick ratio of 1.06, a current ratio of 1.87 and a debt-to-equity ratio of 3.92. Berry Global Group has a twelve month low of $40.50 and a twelve month high of $57.70. The stock has a market cap of $7.51 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Friday, February 1st. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Berry Global Group had a net margin of 5.22% and a return on equity of 33.85%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Equities analysts forecast that Berry Global Group will post 3.85 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.

Recommended Story: Penny Stocks

Analyst Recommendations for Berry Global Group (NYSE:BERY)

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.