Berry Global Group (NYSE:BERY - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.
Several other equities analysts also recently weighed in on the company. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. UBS Group cut their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Finally, Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $71.22.
Check Out Our Latest Stock Analysis on BERY
Berry Global Group Price Performance
Shares of BERY traded down $0.43 on Tuesday, reaching $68.94. The stock had a trading volume of 595,111 shares, compared to its average volume of 987,449. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $70.86. The firm has a market capitalization of $7.89 billion, a PE ratio of 16.38, a PEG ratio of 1.10 and a beta of 1.15. The firm has a 50-day moving average of $67.29 and a 200 day moving average of $62.72. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.
Berry Global Group (NYSE:BERY - Get Free Report) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. Berry Global Group's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Sell-side analysts expect that Berry Global Group will post 7.6 EPS for the current year.
Insider Buying and Selling
In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares of the company's stock, valued at $2,119,889.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.00% of the company's stock.
Hedge Funds Weigh In On Berry Global Group
A number of hedge funds have recently made changes to their positions in BERY. Vanguard Personalized Indexing Management LLC raised its position in Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company's stock valued at $555,000 after purchasing an additional 176 shares during the period. Creative Planning raised its holdings in shares of Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock valued at $464,000 after buying an additional 198 shares during the period. State of Michigan Retirement System lifted its position in Berry Global Group by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company's stock worth $1,724,000 after acquiring an additional 200 shares in the last quarter. Guardian Wealth Management Inc. boosted its holdings in Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company's stock worth $1,743,000 after acquiring an additional 287 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in Berry Global Group by 9.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company's stock valued at $240,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.
About Berry Global Group
(
Get Free Report)
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.
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