Berry Global Group Inc (BERY) Given Consensus Rating of “Hold” by Analysts

Shares of Berry Global Group Inc (NYSE:BERY) have earned a consensus rating of “Hold” from the nine ratings firms that are 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 four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $61.50.

A number of research firms have issued reports on BERY. Zacks Investment Research downgraded Berry Global Group from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the company a “hold” rating in a research report on Wednesday, April 17th. BMO Capital Markets boosted their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Finally, Bank of America began coverage on Berry Global Group in a research report on Thursday. They set a “buy” rating for the company.

Shares of NYSE:BERY opened at $47.87 on Friday. The firm has a market capitalization of $6.38 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 3.72. Berry Global Group has a 52 week low of $40.50 and a 52 week high of $59.16.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. Berry Global Group’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. On average, research analysts anticipate that Berry Global Group will post 3.64 earnings per share for the current fiscal year.

In other Berry Global Group news, EVP Jason K. Greene sold 7,455 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $52.63, for a total transaction of $392,356.65. Following the completion of the sale, the executive vice president now owns 7,705 shares of the company’s stock, valued at $405,514.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jason K. Greene sold 10,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the executive vice president now directly owns 10,250 shares of the company’s stock, valued at approximately $563,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,455 shares of company stock valued at $1,517,357. 1.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC lifted its stake in shares of 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 worth $27,000 after purchasing an additional 200 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in shares of Berry Global Group during the first quarter worth about $27,000. Coastal Investment Advisors Inc. acquired a new position in shares of Berry Global Group during the first quarter worth about $41,000. Rockefeller Capital Management L.P. lifted its stake in shares of Berry Global Group by 827.3% during the first quarter. Rockefeller Capital Management L.P. now owns 816 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 728 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Berry Global Group during the fourth quarter worth about $39,000. Institutional investors own 94.80% 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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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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