Berry Global Group (NYSE:BERY) Given Neutral Rating at Robert W. Baird

Berry Global Group (NYSE:BERY)‘s stock had its “neutral” rating reiterated by research analysts at Robert W. Baird in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $65.00 target price on the industrial products company’s stock, down from their previous target price of $68.00. Robert W. Baird’s price target would suggest a potential upside of 15.21% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Mizuho dropped their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Truist Financial reiterated a “hold” rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Wolfe Research began coverage on Berry Global Group in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company raised their price target on Berry Global Group from $72.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, December 18th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.00.

Berry Global Group Trading Up 0.1 %

Shares of BERY opened at $56.42 on Tuesday. Berry Global Group has a 1 year low of $53.83 and a 1 year high of $69.93. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The stock has a 50 day simple moving average of $59.12 and a 200-day simple moving average of $61.57. The stock has a market cap of $6.54 billion, a PE ratio of 12.13, a PEG ratio of 0.76 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts predict that Berry Global Group will post 7.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the acquisition, the director now owns 5,728 shares in the company, valued at approximately $335,030.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $58.49 per share, with a total value of $58,490.00. Following the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter T. Thomas purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $112,000. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Berry Global Group by 335.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,736 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 9,812 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Berry Global Group by 71.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,152 shares of the industrial products company’s stock valued at $646,000 after acquiring an additional 4,640 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Berry Global Group in the first quarter valued at about $329,000. MetLife Investment Management LLC acquired a new stake in shares of Berry Global Group in the first quarter valued at about $156,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Berry Global Group by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock valued at $509,000 after acquiring an additional 314 shares during the last quarter. 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.