Berry Global Group (NYSE:BERY) had its target price decreased by equities research analysts at Barclays from $71.00 to $70.00 in a research note issued to investors on Monday. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays’ price objective points to a potential upside of 27.00% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Berry Global Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, January 31st. BidaskClub cut Berry Global Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Bank of America raised their price target on Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets raised their price target on Berry Global Group from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Monday, November 20th. Finally, Royal Bank of Canada raised their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Berry Global Group presently has a consensus rating of “Buy” and an average price target of $68.00.

Shares of Berry Global Group (NYSE BERY) opened at $55.12 on Monday. Berry Global Group has a 1-year low of $47.19 and a 1-year high of $61.71. The firm has a market capitalization of $7,220.00, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The company has a quick ratio of 0.96, a current ratio of 1.72 and a debt-to-equity ratio of 4.69.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s revenue was up 18.2% compared to the same quarter last year. equities research analysts forecast that Berry Global Group will post 3.73 earnings per share for the current year.

In related news, CFO Mark W. Miles sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $58.54, for a total transaction of $585,400.00. Following the transaction, the chief financial officer now directly owns 52,916 shares of the company’s stock, valued at approximately $3,097,702.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Berry Global Group during the 4th quarter valued at about $111,000. Cerebellum GP LLC purchased a new position in shares of Berry Global Group during the 4th quarter valued at about $123,000. American International Group Inc. purchased a new position in shares of Berry Global Group during the 4th quarter valued at about $180,000. Crossmark Global Holdings Inc. purchased a new position in shares of Berry Global Group during the 4th quarter valued at about $207,000. Finally, MAI Capital Management purchased a new position in shares of Berry Global Group during the 4th quarter valued at about $218,000. 94.22% of the stock is currently owned by institutional investors.

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About Berry Global Group

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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