Berry Global Group (NYSE:BERY) Stock Rating Lowered by Bank of America

Berry Global Group (NYSE:BERY) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports.

BERY has been the topic of a number of other reports. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the company a “hold” rating in a research report on Wednesday, April 17th. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, July 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Berry Global Group has an average rating of “Hold” and a consensus target price of $60.60.

BERY opened at $53.06 on Friday. The company has a market capitalization of $6.98 billion, a PE ratio of 15.29, a PEG ratio of 1.50 and a beta of 1.20. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 3.72. Berry Global Group has a 1 year low of $40.50 and a 1 year high of $59.16. The company’s 50 day moving average price is $50.72.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.14). Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Analysts anticipate that Berry Global Group will post 3.52 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC grew its position in Berry Global Group by 66.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. First Interstate Bank boosted its stake in Berry Global Group by 29.6% in the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 345 shares in the last quarter. Ingalls & Snyder LLC boosted its stake in Berry Global Group by 3.4% in the second quarter. Ingalls & Snyder LLC now owns 13,845 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 450 shares in the last quarter. SG Americas Securities LLC boosted its stake in Berry Global Group by 21.6% in the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 492 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in Berry Global Group in the first quarter worth $27,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Berry Global Group Company Profile

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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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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