Berry Global Group (NYSE:BERY) Upgraded by StockNews.com to “Buy”

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

A number of other equities analysts have also weighed in on BERY. UBS Group decreased their target price on 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. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Stock Up 0.6 %

Shares of Berry Global Group stock opened at $66.60 on Thursday. The company has a 50-day simple moving average of $66.14 and a two-hundred day simple moving average of $61.93. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $7.62 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15.

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

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Berry Global Group during the third quarter valued at approximately $152,000. Creative Planning lifted its stake in shares of Berry Global Group by 5.9% during the 2nd quarter. Creative Planning now owns 6,629 shares of the industrial products company’s stock valued at $390,000 after buying an additional 372 shares in the last quarter. Algert Global LLC bought a new position in Berry Global Group in the 2nd quarter worth $687,000. Eminence Capital LP boosted its holdings in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. Finally, EdgePoint Investment Group Inc. increased its stake in Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after buying an additional 1,393,955 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.