Robert W. Baird Reiterates “Neutral” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “neutral” rating reissued by research analysts at Robert W. Baird in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $65.00 price target on the industrial products company’s stock, down from their previous price target of $68.00. Robert W. Baird’s price objective would suggest a potential upside of 15.21% from the company’s current price.

Several other equities analysts have also commented on BERY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Wells Fargo & Company increased their price objective on shares of Berry Global Group from $72.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, December 18th. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Barclays decreased their price objective on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Wolfe Research started coverage on shares of Berry Global Group in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Stock Performance

BERY stock opened at $56.42 on Tuesday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.76 and a beta of 1.25. The firm has a 50-day simple moving average of $59.12 and a two-hundred day simple moving average of $61.57. Berry Global Group has a one year low of $53.83 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. On average, equities analysts forecast that Berry Global Group will post 7.42 EPS for the current fiscal year.

Insider Activity at Berry Global Group

In other news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jonathan F. Foster purchased 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the acquisition, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter T. Thomas purchased 2,000 shares of Berry Global Group stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Berry Global Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Guggenheim Capital LLC grew its position in Berry Global Group by 2.5% in the 2nd quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock valued at $449,000 after acquiring an additional 168 shares in the last quarter. M&T Bank Corp lifted its stake in Berry Global Group by 2.0% during the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 173 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in Berry Global Group by 1.5% during the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after purchasing an additional 181 shares during the last quarter. Coombe Bender & Co LLC lifted its stake in Berry Global Group by 3.3% during the third quarter. Coombe Bender & Co LLC now owns 6,225 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 196 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Berry Global Group by 0.3% during the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 222 shares during 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.