Berry Global Group Inc (BERY) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Berry Global Group Inc (NYSE:BERY) have received a consensus rating of “Buy” from the fifteen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $68.27.

Several equities analysts have recently commented on the company. Zacks Investment Research lowered Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays reduced their price objective on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Bank of America increased their price objective on Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th.

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In related news, Director Paula A. Sneed bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average cost of $53.63 per share, for a total transaction of $53,630.00. Following the acquisition, the director now directly owns 1,050 shares of the company’s stock, valued at approximately $56,311.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Berry Global Group during the 4th quarter valued at about $111,000. Cerebellum GP LLC purchased a new stake in Berry Global Group during the 4th quarter valued at about $123,000. American International Group Inc. purchased a new stake in Berry Global Group during the 4th quarter valued at about $180,000. Crossmark Global Holdings Inc. purchased a new stake in Berry Global Group during the 4th quarter valued at about $207,000. Finally, MAI Capital Management purchased a new stake in Berry Global Group in the 4th quarter worth approximately $218,000. Institutional investors own 94.82% of the company’s stock.

Berry Global Group (NYSE:BERY) opened at $52.94 on Monday. The company has a current ratio of 1.72, a quick ratio of 0.96 and a debt-to-equity ratio of 4.69. The company has a market capitalization of $6,945.73, a PE ratio of 15.85, a PEG ratio of 0.70 and a beta of 1.04. Berry Global Group has a 1 year low of $47.19 and a 1 year high of $61.71.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. sell-side analysts anticipate that Berry Global Group will post 3.79 earnings per share for the current fiscal year.

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About Berry Global Group

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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