StockNews.com Lowers Berry Global Group (NYSE:BERY) to Hold

Posted by on Apr 12th, 2023

Berry Global Group (NYSE:BERY – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other research firms have also recently commented on BERY. Citigroup upped their target price on shares of Berry Global Group from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Sunday, February 5th. Robert W. Baird increased their price target on shares of Berry Global Group from $68.00 to $74.00 in a research report on Friday, February 3rd. Morgan Stanley increased their price target on shares of Berry Global Group from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. Truist Financial reduced their price target on shares of Berry Global Group from $70.00 to $69.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Barclays increased their price target on shares of Berry Global Group from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Berry Global Group has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Berry Global Group Stock Down 0.4 %

NYSE:BERY opened at $57.85 on Wednesday. Berry Global Group has a fifty-two week low of $44.52 and a fifty-two week high of $66.21. The stock has a market capitalization of $7.02 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.78 and a beta of 1.17. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.14 and a current ratio of 1.98. The company’s 50-day simple moving average is $59.93 and its 200-day simple moving average is $56.62.

Berry Global Group (NYSE:BERY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Berry Global Group had a net margin of 5.37% and a return on equity of 30.05%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the firm posted $1.25 EPS. Berry Global Group’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, equities analysts anticipate that Berry Global Group will post 7.43 earnings per share for the current fiscal year.

Insider Transactions at Berry Global Group

In related news, CFO Mark W. Miles sold 37,942 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $61.27, for a total transaction of $2,324,706.34. Following the completion of the sale, the chief financial officer now directly owns 47,058 shares of the company’s stock, valued at $2,883,243.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BERY. BerganKDV Wealth Management LLC acquired a new position in shares of Berry Global Group in the 4th quarter valued at approximately $26,000. Wipfli Financial Advisors LLC bought a new position in shares of Berry Global Group in the third quarter worth $30,000. American National Bank bought a new position in shares of Berry Global Group in the third quarter worth $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Berry Global Group in the first quarter worth $38,000. Finally, Lansing Street Advisors bought a new position in shares of Berry Global Group in the fourth quarter worth $46,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Berry Global Group Company Profile

(Get Rating)

Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.

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