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

Berry Global Group (NYSE:BERY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently weighed in on BERY. UBS Group lowered their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.82.

Berry Global Group Trading Down 0.3 %

NYSE BERY traded down $0.20 on Friday, reaching $65.53. The company had a trading volume of 717,756 shares, compared to its average volume of 1,033,003. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.16 and a beta of 1.15. Berry Global Group has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The business has a 50 day moving average of $64.44 and a two-hundred day moving average of $61.01. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Analysts forecast that Berry Global Group will post 7.6 EPS for the current year.

Institutional Trading of Berry Global Group

Several hedge funds have recently made changes to their positions in the company. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 16.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after purchasing an additional 1,934,137 shares during the period. Norges Bank bought a new stake in shares of Berry Global Group during the fourth quarter valued at about $81,617,000. Vanguard Group Inc. lifted its holdings in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after buying an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 280.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after acquiring an additional 588,114 shares during the period. 95.36% of the stock is currently owned by institutional investors.

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.