Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY - Get Free Report) in a research report issued on Tuesday. The firm set a "buy" rating on the industrial products company's stock.

Several other research analysts have also recently weighed in on BERY. Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, February 10th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Citigroup restated a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $74.56.

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Berry Global Group Price Performance

BERY stock traded down $0.88 during trading on Tuesday, hitting $67.97. The company had a trading volume of 2,434,689 shares, compared to its average volume of 1,183,010. The business has a 50 day moving average of $70.07 and a 200 day moving average of $68.56. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.54 and a beta of 1.13. 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 fifty-two week low of $55.24 and a fifty-two week high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. As a group, research analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new position in Berry Global Group during the 4th quarter valued at about $105,092,000. Norges Bank bought a new position in Berry Global Group in the 4th quarter valued at $91,526,000. Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $71,882,000. FMR LLC increased its stake in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Finally, AQR Arbitrage LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $53,950,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.