Berry Global Group (BERY) Price Target Cut to $66.00 by Analysts at Citigroup

Berry Global Group (NYSE:BERY) had its price objective decreased by equities researchers at Citigroup from $71.00 to $66.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 22.11% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Berry Global Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, January 31st. Bank of America lifted their price target on Berry Global Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. BMO Capital Markets raised Berry Global Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Finally, Barclays dropped their price target on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $67.58.

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Berry Global Group stock opened at $54.05 on Thursday. Berry Global Group has a 52 week low of $47.49 and a 52 week high of $61.71. The company has a debt-to-equity ratio of 4.69, a current ratio of 1.72 and a quick ratio of 0.96. The stock has a market cap of $7,244.86, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 0.73 and a beta of 1.05.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was up 18.2% compared to the same quarter last year. equities research analysts predict that Berry Global Group will post 3.79 earnings per share for the current fiscal year.

In related news, Director Paula A. Sneed bought 1,000 shares of the stock in a transaction dated Monday, March 5th. The stock was bought at an average price of $53.63 per share, with a total value of $53,630.00. Following the purchase, the director now owns 1,050 shares in the company, valued at approximately $56,311.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BERY. California Public Employees Retirement System raised its position in Berry Global Group by 4.8% during the 3rd quarter. California Public Employees Retirement System now owns 296,410 shares of the industrial products company’s stock valued at $16,792,000 after purchasing an additional 13,520 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Berry Global Group by 21.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 130,020 shares of the industrial products company’s stock valued at $7,366,000 after purchasing an additional 22,572 shares during the last quarter. Atlantic Trust Group LLC raised its position in Berry Global Group by 184.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock valued at $48,784,000 after purchasing an additional 558,411 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Berry Global Group by 27.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,200 shares of the industrial products company’s stock valued at $598,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Syntal Capital Partners LLC raised its position in Berry Global Group by 80.7% during the 4th quarter. Syntal Capital Partners LLC now owns 23,079 shares of the industrial products company’s stock valued at $1,354,000 after purchasing an additional 10,307 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

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About Berry Global Group

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It 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, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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