Berry Global Group (NYSE:BERY) Now Covered by Analysts at Credit Suisse Group

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Research analysts at Credit Suisse Group initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $62.00 price target on the industrial products company’s stock. Credit Suisse Group’s price target indicates a potential upside of 47.83% from the stock’s previous close.

A number of other analysts have also issued reports on BERY. ValuEngine raised Berry Global Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 target price on shares of Berry Global Group in a research report on Monday, January 20th. Barclays initiated coverage on Berry Global Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $50.00 target price on the stock. Morgan Stanley reissued a “hold” rating and issued a $51.00 target price (up previously from $49.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.91.

Shares of NYSE BERY opened at $41.94 on Thursday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.82 and a beta of 1.36. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 6.24. Berry Global Group has a 52-week low of $36.98 and a 52-week high of $59.16. The business’s 50 day moving average is $45.41 and its two-hundred day moving average is $42.92.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, January 31st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.90 billion. Berry Global Group had a return on equity of 26.56% and a net margin of 3.73%. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. Analysts anticipate that Berry Global Group will post 4.13 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Usca Ria LLC purchased a new position in Berry Global Group in the third quarter valued at $51,000. FTB Advisors Inc. increased its holdings in Berry Global Group by 55.9% in the third quarter. FTB Advisors Inc. now owns 1,386 shares of the industrial products company’s stock valued at $53,000 after buying an additional 497 shares during the last quarter. Heritage Wealth Advisors increased its holdings in Berry Global Group by 33.0% in the fourth quarter. Heritage Wealth Advisors now owns 1,197 shares of the industrial products company’s stock valued at $57,000 after buying an additional 297 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Berry Global Group by 131.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,684 shares of the industrial products company’s stock valued at $80,000 after buying an additional 957 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Berry Global Group in the fourth quarter valued at $103,000. 95.59% of the stock is currently owned by institutional investors and hedge funds.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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