Berry Global Group Inc (NYSE:BERY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, May 5th.

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. “

Other research analysts have also issued reports about the stock. Jefferies Group LLC raised their price target on shares of Berry Global Group from $59.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price target on shares of Berry Global Group in a research report on Tuesday, April 11th. BMO Capital Markets reissued a “hold” rating and set a $54.00 price target on shares of Berry Global Group in a research report on Friday, April 28th. KeyCorp reissued a “hold” rating on shares of Berry Global Group in a research report on Tuesday, February 7th. Finally, Credit Suisse Group AG raised their price target on shares of Berry Global Group from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.00.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

Shares of Berry Global Group (NYSE:BERY) traded down 0.82% during mid-day trading on Friday, hitting $55.85. 352,755 shares of the company were exchanged. Berry Global Group has a 12-month low of $34.98 and a 12-month high of $56.94. The company’s 50-day moving average price is $51.36 and its 200-day moving average price is $49.70. The firm has a market capitalization of $7.23 billion, a P/E ratio of 24.23 and a beta of 1.12.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Berry Global Group had a net margin of 4.44% and a return on equity of 192.84%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm earned $0.58 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Berry Global Group will post $2.88 earnings per share for the current fiscal year.

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In other news, President Curt Begle sold 18,000 shares of Berry Global Group stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $55.23, for a total value of $994,140.00. Following the completion of the transaction, the president now owns 31,200 shares in the company, valued at $1,723,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl J. Rickertsen sold 29,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $56.35, for a total transaction of $1,662,325.00. Following the transaction, the director now directly owns 15,119 shares of the company’s stock, valued at approximately $851,955.65. The disclosure for this sale can be found here. 3.11% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its position in Berry Global Group by 14.0% in the third quarter. Advisor Group Inc. now owns 2,434 shares of the industrial products company’s stock worth $107,000 after buying an additional 299 shares in the last quarter. First Quadrant L P CA bought a new position in Berry Global Group during the first quarter worth approximately $144,000. Pacer Advisors Inc. boosted its position in Berry Global Group by 31.8% in the third quarter. Pacer Advisors Inc. now owns 4,095 shares of the industrial products company’s stock worth $180,000 after buying an additional 987 shares in the last quarter. FTB Advisors Inc. boosted its position in Berry Global Group by 809.5% in the first quarter. FTB Advisors Inc. now owns 3,811 shares of the industrial products company’s stock worth $185,000 after buying an additional 3,392 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Berry Global Group by 2.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 3,992 shares of the industrial products company’s stock worth $194,000 after buying an additional 111 shares in the last quarter. 96.56% of the stock is owned by institutional investors and hedge funds.

About Berry Global Group

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

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