Berry Global Group (NYSE:BERY) Stock Rating Lowered by Bank of America

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Berry Global Group (NYSE:BERY) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the company. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the company a “hold” rating in a research note on Wednesday, April 17th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Berry Global Group has an average rating of “Hold” and a consensus price target of $60.60.

NYSE:BERY opened at $53.06 on Friday. Berry Global Group has a 1-year low of $40.50 and a 1-year high of $59.16. The firm has a 50-day moving average of $50.72. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 3.72. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Berry Global Group will post 3.52 EPS for the current year.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Berry Global Group by 0.6% in the first quarter. BlackRock Inc. now owns 5,642,308 shares of the industrial products company’s stock worth $303,951,000 after acquiring an additional 35,742 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Berry Global Group by 4.8% in the first quarter. Marshall Wace North America L.P. now owns 3,521,401 shares of the industrial products company’s stock worth $189,697,000 after acquiring an additional 162,244 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Berry Global Group by 1.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,530,897 shares of the industrial products company’s stock worth $120,294,000 after acquiring an additional 38,752 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Berry Global Group by 8.7% in the first quarter. Bank of Montreal Can now owns 2,402,847 shares of the industrial products company’s stock worth $129,442,000 after acquiring an additional 192,183 shares in the last quarter. Finally, Anchor Bolt Capital LP increased its holdings in shares of Berry Global Group by 124.9% in the fourth quarter. Anchor Bolt Capital LP now owns 2,240,092 shares of the industrial products company’s stock worth $106,472,000 after acquiring an additional 1,244,171 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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