Berry Global Group (NYSE:BERY) Now Covered by The Goldman Sachs Group


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Equities researchers at The Goldman Sachs Group started coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $75.00 price target on the industrial products company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 19.43% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Berry Global Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, February 8th. Citigroup upped their target price on Berry Global Group from $67.00 to $70.00 in a research report on Tuesday, February 9th. Finally, BMO Capital Markets upped their target price on Berry Global Group from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.31.

NYSE:BERY opened at $62.80 on Thursday. The stock has a 50-day simple moving average of $60.10 and a 200-day simple moving average of $54.72. The stock has a market cap of $8.41 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.00 and a beta of 1.37. Berry Global Group has a 1 year low of $33.97 and a 1 year high of $63.51. The company has a debt-to-equity ratio of 4.86, a quick ratio of 1.17 and a current ratio of 1.75.

Berry Global Group (NYSE:BERY) last announced its earnings results on Thursday, February 4th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Berry Global Group had a return on equity of 35.39% and a net margin of 4.77%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities research analysts predict that Berry Global Group will post 5.35 EPS for the current year.

In other news, EVP Jason K. Greene sold 15,000 shares of Berry Global Group stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $63.00, for a total transaction of $945,000.00. Following the sale, the executive vice president now directly owns 15,250 shares of the company’s stock, valued at $960,750. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Curt Begle sold 18,000 shares of Berry Global Group stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $59.00, for a total value of $1,062,000.00. Following the completion of the transaction, the president now owns 18,000 shares of the company’s stock, valued at $1,062,000. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $4,023,000 in the last quarter. 2.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Berry Global Group by 2.4% in the fourth quarter. BlackRock Inc. now owns 5,657,398 shares of the industrial products company’s stock worth $317,889,000 after purchasing an additional 132,652 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Berry Global Group by 47.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 3,205,990 shares of the industrial products company’s stock worth $180,145,000 after purchasing an additional 1,030,990 shares in the last quarter. Lyrical Asset Management LP grew its stake in Berry Global Group by 1.1% in the fourth quarter. Lyrical Asset Management LP now owns 2,825,140 shares of the industrial products company’s stock worth $158,745,000 after purchasing an additional 31,992 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its stake in Berry Global Group by 4.2% in the fourth quarter. TPG Group Holdings SBS Advisors Inc. now owns 2,395,435 shares of the industrial products company’s stock worth $134,599,000 after purchasing an additional 96,135 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Berry Global Group by 7,761.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,697,744 shares of the industrial products company’s stock worth $95,396,000 after purchasing an additional 1,676,149 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. Its Consumer Packaging International segment offers closures, dispensing systems, and applicators; inhalers and dose counters; polythene films; packaging solutions for consumer and industrial applications in personal care, beverage, and food markets; injection molded and thermoformed containers, and lids; and molds and molded components, as well as recycles rigid and flexible end of life materials from industrial and consumer sources.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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