Berry Global Group Inc (BERY) Receives $66.30 Consensus Price Target from Brokerages

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Shares of Berry Global Group Inc (NYSE:BERY) have earned an average rating of “Buy” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $66.30.

Several analysts have issued reports on the stock. ValuEngine lowered shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Cfra reiterated a “buy” rating and set a $57.00 target price on shares of Berry Global Group in a research report on Thursday, September 6th. Finally, KeyCorp reiterated a “hold” rating on shares of Berry Global Group in a research report on Friday, August 3rd.

NYSE BERY traded down $0.15 during midday trading on Friday, hitting $42.74. The company had a trading volume of 759,700 shares, compared to its average volume of 1,312,288. The company has a debt-to-equity ratio of 4.41, a current ratio of 2.01 and a quick ratio of 1.19. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.58 and a beta of 1.12. Berry Global Group has a fifty-two week low of $42.38 and a fifty-two week high of $61.71.

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 consensus estimate of $1.05 by ($0.09). The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, sell-side analysts expect that Berry Global Group will post 3.35 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of BERY. Tower Research Capital LLC TRC acquired a new stake in shares of Berry Global Group during the 2nd quarter valued at about $105,000. First Hawaiian Bank acquired a new position in Berry Global Group in the third quarter valued at about $129,000. Nisa Investment Advisors LLC acquired a new position in Berry Global Group in the third quarter valued at about $145,000. Atria Investments LLC acquired a new position in Berry Global Group in the second quarter valued at about $212,000. Finally, Koch Industries Inc. acquired a new position in Berry Global Group in the first quarter valued at about $233,000. Institutional investors and hedge funds own 93.90% 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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