Berry Global Group (NYSE:BERY) Lowered to Hold at StockNews.com

Berry Global Group (NYSE:BERY - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

A number of other equities research analysts also recently commented on BERY. Wells Fargo & Company cut their price objective on Berry Global Group from $78.00 to $74.00 and set an "overweight" rating for the company in a research report on Thursday, August 10th. Truist Financial raised shares of Berry Global Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $69.00 to $73.00 in a research note on Wednesday, May 24th. Citigroup boosted their target price on shares of Berry Global Group from $79.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, August 14th. Royal Bank of Canada boosted their target price on shares of Berry Global Group from $73.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, August 10th. Finally, UBS Group cut their target price on shares of Berry Global Group from $75.00 to $73.00 in a research note on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $73.54.

View Our Latest Analysis on Berry Global Group

Shares of NYSE BERY traded up $0.54 during midday trading on Friday, hitting $63.17. 882,622 shares of the company's stock were exchanged, compared to its average volume of 1,042,087. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.87 and a quick ratio of 1.12. The stock's 50 day moving average price is $64.44 and its 200-day moving average price is $61.06. The firm has a market cap of $7.46 billion, a P/E ratio of 11.92, a PEG ratio of 0.86 and a beta of 1.19. Berry Global Group has a twelve month low of $44.52 and a twelve month high of $68.01.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.07). The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.42 billion. Berry Global Group had a return on equity of 27.67% and a net margin of 5.05%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. Equities research analysts anticipate that Berry Global Group will post 7.29 EPS for the current year.

In other Berry Global Group news, insider Jason K. Greene sold 520 shares of the company's stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $68.01, for a total transaction of $35,365.20. Following the completion of the sale, the insider now directly owns 250 shares in the company, valued at $17,002.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jason K. Greene sold 520 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $68.01, for a total value of $35,365.20. Following the completion of the sale, the insider now owns 250 shares in the company, valued at $17,002.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President William J. Norman sold 9,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $66.48, for a total transaction of $598,320.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,122 shares of company stock worth $6,368,915. Corporate insiders own 3.30% of the company's stock.

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new position in Berry Global Group in the first quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Berry Global Group during the first quarter worth approximately $29,000. Bartlett & Co. LLC bought a new position in shares of Berry Global Group in the second quarter valued at approximately $32,000. Quarry LP raised its stake in shares of Berry Global Group by 150.9% in the first quarter. Quarry LP now owns 537 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 323 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Berry Global Group in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.95% of the company's stock.

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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