StockNews.com Upgrades Berry Global Group (NYSE:BERY) to “Buy”

Berry Global Group (NYSE:BERY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

BERY has been the topic of several other reports. UBS Group decreased their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average price target of $71.82.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $66.60 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $61.93. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. Analysts anticipate that Berry Global Group will post 7.6 earnings per share for the current year.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after buying an additional 1,200,021 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares in the last quarter. Eminence Capital LP boosted its holdings in Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after acquiring an additional 492,793 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in Berry Global Group by 18.7% during the 1st quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock valued at $102,886,000 after purchasing an additional 267,413 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.