Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at Credit Suisse Group

Credit Suisse Group initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $62.00 price target on the industrial products company’s stock.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada reissued a buy rating and set a $56.00 price target on shares of Berry Global Group in a research report on Monday, January 20th. Citigroup reduced their price target on shares of Berry Global Group from $59.00 to $58.00 and set a buy rating for the company in a research report on Thursday, October 17th. KeyCorp reissued a hold rating on shares of Berry Global Group in a research report on Friday, January 31st. Morgan Stanley reissued a hold rating and set a $51.00 price target (up from $49.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, ValuEngine raised shares of Berry Global Group from a sell rating to a hold rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $55.91.

BERY traded down $0.34 during trading on Thursday, reaching $41.94. 923,400 shares of the company’s stock were exchanged, compared to its average volume of 1,518,706. Berry Global Group has a 1 year low of $36.98 and a 1 year high of $59.16. The company has a debt-to-equity ratio of 6.24, a current ratio of 1.77 and a quick ratio of 1.09. The stock has a market capitalization of $5.52 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36. The company’s fifty day simple moving average is $45.52 and its 200-day simple moving average is $42.98.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Berry Global Group had a net margin of 3.73% and a return on equity of 26.56%. The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the firm posted $0.77 EPS. Berry Global Group’s revenue for the quarter was up 42.8% compared to the same quarter last year. Equities analysts forecast that Berry Global Group will post 4.13 EPS for the current year.

Several large investors have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. purchased a new position in shares of Berry Global Group during the 3rd quarter valued at approximately $151,473,000. CI Investments Inc. purchased a new position in shares of Berry Global Group during the 4th quarter valued at approximately $138,257,000. Canyon Capital Advisors LLC increased its holdings in shares of Berry Global Group by 19.2% during the 3rd quarter. Canyon Capital Advisors LLC now owns 6,898,188 shares of the industrial products company’s stock valued at $270,892,000 after purchasing an additional 1,111,475 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Berry Global Group by 24.3% during the 4th quarter. Marshall Wace North America L.P. now owns 5,510,822 shares of the industrial products company’s stock valued at $261,709,000 after purchasing an additional 1,076,252 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Berry Global Group by 160.5% during the 4th quarter. Bank of America Corp DE now owns 1,403,974 shares of the industrial products company’s stock valued at $66,675,000 after purchasing an additional 864,919 shares in the last quarter. 95.59% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Penny Stocks

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.