Brokerages Set Berry Global Group Inc (NYSE:BERY) Target Price at $61.57
Berry Global Group Inc (NYSE:BERY) has been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.57.
Several brokerages have recently issued reports on BERY. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 target price on the stock in a research report on Monday, July 8th. Morgan Stanley set a $60.00 target price on shares of Berry Global Group and gave the company a “hold” rating in a research report on Wednesday, April 17th. Bank of America lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. began coverage on shares of Berry Global Group in a research report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 target price on the stock. Finally, ValuEngine lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st.
Several large investors have recently bought and sold shares of BERY. Legal & General Group Plc lifted its stake in Berry Global Group by 8.9% in the fourth quarter. Legal & General Group Plc now owns 92,871 shares of the industrial products company’s stock valued at $4,414,000 after buying an additional 7,587 shares during the period. American Century Companies Inc. acquired a new position in Berry Global Group in the fourth quarter valued at about $7,583,000. Deutsche Bank AG lifted its stake in Berry Global Group by 105.0% in the fourth quarter. Deutsche Bank AG now owns 526,423 shares of the industrial products company’s stock valued at $25,019,000 after buying an additional 269,648 shares during the period. First Hawaiian Bank lifted its stake in Berry Global Group by 49.7% in the first quarter. First Hawaiian Bank now owns 2,522 shares of the industrial products company’s stock valued at $136,000 after buying an additional 837 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Berry Global Group by 42.0% in the first quarter. State of Alaska Department of Revenue now owns 21,469 shares of the industrial products company’s stock valued at $1,155,000 after buying an additional 6,348 shares during the period. 95.17% of the stock is currently owned by hedge funds and other institutional investors.
Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.96 EPS. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Berry Global Group will post 3.5 EPS for the current year.
About Berry Global Group
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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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