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

Berry Global Group, Inc. (NYSE:BERY) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $74.29.

Several analysts have issued reports on BERY shares. UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Wall Street Zen initiated coverage on Berry Global Group in a research report on Tuesday, May 20th. They set a “buy” rating on the stock. Finally, Truist Financial cut their price objective on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd.

Berry Global Group Stock Down 2.8%

Shares of BERY stock opened at $67.69 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group has a 12 month low of $57.80 and a 12 month high of $74.24. The stock has a market cap of $7.84 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a 50 day simple moving average of $67.59 and a two-hundred day simple moving average of $68.44.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.60 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 EPS. On average, research analysts expect that Berry Global Group will post 6.25 earnings per share for the current year.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently made changes to their positions in the business. Barclays PLC grew its position in shares of Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after purchasing an additional 47,476 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Berry Global Group by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock worth $649,000 after purchasing an additional 241 shares during the period. Pictet Asset Management Holding SA boosted its stake in Berry Global Group by 6.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,680 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 933 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Berry Global Group by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock valued at $54,771,000 after buying an additional 11,010 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.