Berry Global Group (NYSE:BERY) Rating Lowered to Hold at StockNews.com

Berry Global Group (NYSE:BERY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other brokerages have also commented on BERY. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Finally, Truist Financial upped their price objective on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Down 1.2 %

Shares of NYSE:BERY opened at $68.14 on Tuesday. The company has a 50 day moving average price of $67.39 and a two-hundred day moving average price of $62.76. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The company has a market capitalization of $7.80 billion, a PE ratio of 16.19, a PEG ratio of 1.10 and a beta of 1.15. Berry Global Group has a 52 week low of $53.92 and a 52 week high of $70.86.

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

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Berry Global Group by 3.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock valued at $1,021,000 after purchasing an additional 487 shares during the last quarter. State of Michigan Retirement System grew its holdings in Berry Global Group by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock valued at $1,724,000 after buying an additional 200 shares in the last quarter. Norden Group LLC bought a new position in Berry Global Group during the 1st quarter worth $259,000. Leeward Investments LLC MA lifted its holdings in shares of Berry Global Group by 4.9% during the first quarter. Leeward Investments LLC MA now owns 173,826 shares of the industrial products company’s stock worth $10,513,000 after buying an additional 8,185 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Berry Global Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 436,541 shares of the industrial products company’s stock valued at $26,402,000 after acquiring an additional 2,850 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Company Profile

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.