Berry Global Group (NYSE:BERY) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY - Free Report) from a hold rating to a buy rating in a report released on Wednesday morning.

A number of other brokerages have also issued reports on BERY. Truist Financial increased their price target on Berry Global Group from $68.00 to $74.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target on the stock. Finally, UBS Group reduced 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $71.22.

Berry Global Group Stock Performance

BERY stock traded up $0.89 during trading on Wednesday, reaching $70.62. 464,691 shares of the company's stock were exchanged, compared to its average volume of 980,206. The firm has a market cap of $8.08 billion, a PE ratio of 16.56, a P/E/G ratio of 1.10 and a beta of 1.15. 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 has a 1-year low of $54.06 and a 1-year high of $70.91. The company's fifty day moving average price is $67.72 and its 200-day moving average price is $63.08.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The company's quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts expect that Berry Global Group will post 7.6 EPS for the current fiscal year.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company's 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 owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group in the 2nd quarter valued at approximately $27,000. Quest Partners LLC increased its stake in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company's stock worth $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC increased its stake in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company's stock worth $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Berry Global Group in the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

About Berry Global Group

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.