Berry Global Group (BERY) Upgraded at BMO Capital Markets

Berry Global Group (NYSE:BERY) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday.

Several other brokerages have also issued reports on BERY. BidaskClub raised shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 3rd. Zacks Investment Research lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. SunTrust Banks reissued a “buy” rating and issued a $65.00 price target on shares of Berry Global Group in a report on Monday, October 2nd. Citigroup boosted their price target on shares of Berry Global Group from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, November 20th. Finally, Robert W. Baird boosted their price target on shares of Berry Global Group from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Berry Global Group has an average rating of “Buy” and a consensus price target of $67.82.

Shares of Berry Global Group (BERY) traded down $0.45 during trading on Wednesday, hitting $59.50. 506,370 shares of the stock were exchanged, compared to its average volume of 764,436. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.77 and a quick ratio of 1.10. Berry Global Group has a twelve month low of $47.19 and a twelve month high of $61.71. The firm has a market capitalization of $7,790.00, a PE ratio of 23.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, November 16th. The industrial products company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Berry Global Group had a net margin of 4.79% and a return on equity of 58.69%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. equities research analysts anticipate that Berry Global Group will post 3.45 EPS for the current year.

In other news, CFO Mark W. Miles sold 10,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $58.54, for a total value of $585,400.00. Following the sale, the chief financial officer now owns 52,916 shares of the company’s stock, valued at approximately $3,097,702.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.11% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. 361 Capital LLC acquired a new position in Berry Global Group during the 3rd quarter valued at about $857,000. Atlantic Trust Group LLC raised its position in shares of Berry Global Group by 184.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock valued at $48,784,000 after acquiring an additional 558,411 shares during the period. Victory Capital Management Inc. raised its position in shares of Berry Global Group by 119.5% in the 3rd quarter. Victory Capital Management Inc. now owns 322,350 shares of the industrial products company’s stock valued at $18,261,000 after acquiring an additional 175,522 shares during the period. Syntal Capital Partners LLC raised its position in shares of Berry Global Group by 11.7% in the 3rd quarter. Syntal Capital Partners LLC now owns 12,772 shares of the industrial products company’s stock valued at $723,000 after acquiring an additional 1,337 shares during the period. Finally, Tributary Capital Management LLC raised its position in shares of Berry Global Group by 99.1% in the 3rd quarter. Tributary Capital Management LLC now owns 22,300 shares of the industrial products company’s stock valued at $1,263,000 after acquiring an additional 11,100 shares during the period. Institutional investors and hedge funds own 95.03% of the company’s stock.

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Berry Global Group Company Profile

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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