Zacks Investment Research Lowers Berry Global Group (BERY) to Hold

Zacks Investment Research lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Berry Global Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company’s products include engineered materials, non-woven specialty materials and consumer packaging. Berry Global Group, Inc., formerly known as Berry Plastics Group, Inc., is headquartered in Evansville, Indiana. “

A number of other brokerages have also recently issued reports on BERY. BMO Capital Markets upgraded shares of Berry Global Group from a market perform rating to an outperform rating in a research report on Wednesday, January 24th. SunTrust Banks lifted their target price on shares of Berry Global Group to $69.00 and gave the stock a buy rating in a research report on Tuesday, November 21st. Citigroup lifted their target price on shares of Berry Global Group from $68.00 to $71.00 and gave the stock a buy rating in a research report on Monday, November 20th. Royal Bank of Canada lifted their target price on shares of Berry Global Group from $65.00 to $69.00 and gave the stock an outperform rating in a research report on Monday, November 20th. Finally, Robert W. Baird lifted their target price on shares of Berry Global Group from $65.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $68.25.

Shares of Berry Global Group (NYSE BERY) opened at $53.47 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 5.53. Berry Global Group has a 52 week low of $47.19 and a 52 week high of $61.71. The company has a market cap of $7,188.45, a PE ratio of 16.01, a P/E/G ratio of 0.78 and a beta of 0.99.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Berry Global Group had a net margin of 6.13% and a return on equity of 51.50%. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. research analysts forecast that Berry Global Group will post 3.49 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. 361 Capital LLC purchased a new stake in shares of Berry Global Group during the third quarter worth about $857,000. Atlantic Trust Group LLC grew its holdings in shares of Berry Global Group by 184.5% during the third quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock worth $48,784,000 after buying an additional 558,411 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Berry Global Group by 119.5% during the third quarter. Victory Capital Management Inc. now owns 322,350 shares of the industrial products company’s stock worth $18,261,000 after buying an additional 175,522 shares in the last quarter. Syntal Capital Partners LLC grew its holdings in shares of Berry Global Group by 11.7% during the third quarter. Syntal Capital Partners LLC now owns 12,772 shares of the industrial products company’s stock worth $723,000 after buying an additional 1,337 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Berry Global Group during the fourth quarter worth about $557,000. Institutional investors and hedge funds own 94.70% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.com-unik.info/2018/02/09/zacks-investment-research-lowers-berry-global-group-bery-to-hold.html.

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.

Get a free copy of the Zacks research report on Berry Global Group (BERY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Berry Global Group (NYSE:BERY)

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit