Berry Global Group (BERY) Upgraded at Zacks Investment Research

Berry Global Group (NYSE:BERY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Berry Global Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company’s products include engineered materials, non-woven specialty materials and consumer packaging. Berry Global Group, Inc., formerly known as Berry Plastics Group, Inc., is headquartered in Evansville, Indiana. “

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A number of other analysts have also recently commented on BERY. BMO Capital Markets raised Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Credit Suisse Group dropped their price target on Berry Global Group from $73.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, April 27th. Vertical Research assumed coverage on Berry Global Group in a research report on Thursday, April 12th. They issued a “buy” rating on the stock. Citigroup dropped their price target on Berry Global Group from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, April 5th. Finally, Bank of America boosted their price target on Berry Global Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.58.

Berry Global Group traded down $0.17, hitting $49.58, during trading hours on Thursday, Marketbeat Ratings reports. 1,786,000 shares of the stock traded hands, compared to its average volume of 1,247,650. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.13 and a current ratio of 1.95. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.67 and a beta of 1.06. Berry Global Group has a one year low of $47.30 and a one year high of $61.71.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, May 3rd. The industrial products company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.03). The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Berry Global Group had a net margin of 6.24% and a return on equity of 41.40%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. analysts predict that Berry Global Group will post 3.64 earnings per share for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC lifted its position in Berry Global Group by 11.1% in the 1st quarter. Canyon Capital Advisors LLC now owns 6,438,430 shares of the industrial products company’s stock valued at $352,890,000 after acquiring an additional 643,825 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Berry Global Group by 3.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 5,857,695 shares of the industrial products company’s stock valued at $343,671,000 after buying an additional 210,107 shares during the last quarter. BlackRock Inc. raised its stake in Berry Global Group by 2.6% during the 4th quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock valued at $316,046,000 after buying an additional 136,987 shares during the last quarter. Boston Partners raised its stake in Berry Global Group by 4.1% during the 4th quarter. Boston Partners now owns 4,089,152 shares of the industrial products company’s stock valued at $239,911,000 after buying an additional 160,491 shares during the last quarter. Finally, Luminus Management LLC raised its stake in Berry Global Group by 54.9% during the 4th quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock valued at $223,867,000 after buying an additional 1,352,044 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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