Barclays Trims Berry Global Group (BERY) Target Price to $70.00

Berry Global Group (NYSE:BERY) had its target price lowered by Barclays from $71.00 to $70.00 in a research note issued to investors on Monday morning. Barclays currently has an overweight rating on the industrial products company’s stock.

Several other research firms also recently commented on BERY. Robert W. Baird increased their target price on Berry Global Group from $65.00 to $70.00 and gave the company an outperform rating in a research report on Friday, November 17th. Bank of America increased their target price on Berry Global Group from $73.00 to $74.00 and gave the company a buy rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded Berry Global Group from a buy rating to a hold rating in a research report on Monday, October 16th. BidaskClub downgraded Berry Global Group from a buy rating to a hold rating in a research report on Wednesday, November 1st. Finally, BMO Capital Markets upgraded Berry Global Group from a market perform rating to an outperform rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $68.00.

Berry Global Group (BERY) opened at $55.07 on Monday. The company has a debt-to-equity ratio of 4.69, a current ratio of 1.72 and a quick ratio of 0.96. The company has a market capitalization of $7,210.00, a PE ratio of 16.49, a price-to-earnings-growth ratio of 0.72 and a beta of 0.99. Berry Global Group has a 1 year low of $47.19 and a 1 year high of $61.71.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. equities research analysts anticipate that Berry Global Group will post 3.78 EPS for the current fiscal year.

In other 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Berry Global Group during the fourth quarter worth about $111,000. Cerebellum GP LLC bought a new stake in Berry Global Group in the fourth quarter worth approximately $123,000. American International Group Inc. bought a new stake in Berry Global Group in the fourth quarter worth approximately $180,000. Crossmark Global Holdings Inc. bought a new stake in Berry Global Group in the fourth quarter worth approximately $207,000. Finally, MAI Capital Management bought a new stake in Berry Global Group in the fourth quarter worth approximately $218,000. Institutional investors own 94.22% of the company’s stock.

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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.

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