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

Berry Global Group (NYSE:BERY) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

BERY has been the subject of several other reports. Bank of America boosted their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th. UBS Group cut their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Berry Global Group Stock Up 2.0 %

NYSE BERY opened at $63.18 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.33 and a beta of 1.17. The company has a 50 day moving average of $61.49 and a 200-day moving average of $60.16. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93.

Berry Global Group (NYSE:BERY) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts expect that Berry Global Group will post 7.44 earnings per share for the current fiscal year.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares in the company, valued at $262,216.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in Berry Global Group in the fourth quarter valued at approximately $31,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% in 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 period. LRI Investments LLC boosted its stake in shares of Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group during the second quarter worth $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group during the second quarter worth $44,000. Institutional investors and hedge funds 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.