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

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

Several other equities research analysts have also commented on the stock. UBS Group reduced their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.80.

Berry Global Group Trading Up 2.2 %

Shares of Berry Global Group stock traded up $1.46 on Friday, hitting $68.50. 604,858 shares of the company traded hands, compared to its average volume of 998,387. Berry Global Group has a 52 week low of $53.92 and a 52 week high of $69.93. The company has a market cap of $7.84 billion, a PE ratio of 16.27, a PEG ratio of 1.10 and a beta of 1.15. The stock’s 50 day moving average price is $66.36 and its 200-day moving average price is $62.20. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The business had revenue of $3.16 billion for 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 business’s 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. Equities research analysts predict that Berry Global Group will post 7.6 EPS for the current year.

Institutional Trading of Berry Global Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its stake in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 615 shares during the period. Neo Ivy Capital Management acquired a new stake in Berry Global Group during the 4th quarter worth about $239,000. Goldman Sachs Group Inc. raised its stake in shares of Berry Global Group by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after buying an additional 48,484 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Berry Global Group in the 4th quarter valued at about $8,559,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Berry Global Group in the fourth quarter worth about $500,000. Institutional investors and hedge funds 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.