Berry Global Group (NYSE:BERY) Hits New 1-Year Low at $37.99

Berry Global Group Inc (NYSE:BERY)’s share price reached a new 52-week low on Monday . The company traded as low as $37.99 and last traded at $38.24, with a volume of 68573 shares trading hands. The stock had previously closed at $38.77.

Several equities research analysts have recently weighed in on the company. Goldman Sachs Group reissued a “buy” rating and set a $52.00 target price on shares of Berry Global Group in a research report on Thursday, August 22nd. JPMorgan Chase & Co. initiated coverage on shares of Berry Global Group in a research report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 price target for the company. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a research note on Monday, July 8th. TheStreet lowered Berry Global Group from a “b” rating to a “c+” rating in a report on Tuesday, July 30th. Finally, Bank of America cut Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $60.86.

The business’s fifty day moving average price is $42.52 and its 200 day moving average price is $50.32. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.96 and a beta of 1.24. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 3.52.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.96 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Berry Global Group Inc will post 3.41 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in BERY. SG Americas Securities LLC grew its holdings in shares of Berry Global Group by 21.6% during the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock worth $149,000 after buying an additional 492 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Berry Global Group during the first quarter worth $687,000. Moors & Cabot Inc. acquired a new stake in shares of Berry Global Group during the first quarter worth $254,000. Comerica Bank grew its position in Berry Global Group by 15.8% in the 1st quarter. Comerica Bank now owns 7,053 shares of the industrial products company’s stock valued at $399,000 after buying an additional 964 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Berry Global Group by 732.9% in the 1st quarter. Victory Capital Management Inc. now owns 754,100 shares of the industrial products company’s stock valued at $40,623,000 after buying an additional 663,561 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

About Berry Global Group (NYSE:BERY)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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