Berry Global Group (BERY) Given “Buy” Rating at Cfra

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Berry Global Group (NYSE:BERY)‘s stock had its “buy” rating restated by Cfra in a research note issued on Thursday. They presently have a $57.00 price target on the industrial products company’s stock. Cfra’s price objective would suggest a potential upside of 18.13% from the company’s previous close.

The analysts wrote, “We forecast 11% sales growth in fiscal year 2018 (Sep.) and mid-single digit growth in fiscal year 2019. Clopay, which was acquired in February 2018, is driving strong growth in the Health, Hygiene & Specialties segment.””

A number of other research analysts also recently issued reports on the stock. KeyCorp restated a “hold” rating on shares of Berry Global Group in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine downgraded shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research report on Friday, June 1st. Jefferies Financial Group started coverage on shares of Berry Global Group in a research report on Friday, May 18th. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Berry Global Group from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Berry Global Group currently has an average rating of “Buy” and an average target price of $65.75.

Shares of Berry Global Group stock traded up $0.31 during trading hours on Thursday, reaching $48.25. The company’s stock had a trading volume of 759,429 shares, compared to its average volume of 1,337,825. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group has a one year low of $45.24 and a one year high of $61.71. The company has a market cap of $6.29 billion, a P/E ratio of 15.72, a PEG ratio of 0.71 and a beta of 1.05.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.09). Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. sell-side analysts predict that Berry Global Group will post 3.36 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Canyon Capital Advisors LLC raised its position in shares of Berry Global Group by 22.9% during the 2nd quarter. Canyon Capital Advisors LLC now owns 7,910,280 shares of the industrial products company’s stock worth $363,398,000 after buying an additional 1,471,850 shares in the last quarter. BlackRock Inc. raised its position in shares of Berry Global Group by 1.9% during the 2nd quarter. BlackRock Inc. now owns 5,502,126 shares of the industrial products company’s stock worth $252,768,000 after buying an additional 104,660 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Berry Global Group by 3.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,665,390 shares of the industrial products company’s stock worth $168,387,000 after buying an additional 116,232 shares in the last quarter. Millennium Management LLC raised its position in shares of Berry Global Group by 18.6% during the 1st quarter. Millennium Management LLC now owns 1,943,440 shares of the industrial products company’s stock worth $106,520,000 after buying an additional 304,292 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Berry Global Group by 8.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,614,487 shares of the industrial products company’s stock worth $74,170,000 after buying an additional 130,530 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.

Berry Global Group Company Profile

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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