Berry Global Group (BERY) Sets New 1-Year High and Low at $45.70

Berry Global Group Inc (NYSE:BERY) shares reached a new 52-week high and low on Thursday . The company traded as low as $45.70 and last traded at $46.23, with a volume of 94186 shares changing hands. The stock had previously closed at $46.62.

A number of research firms have weighed in on BERY. Bank of America cut their price objective on shares of Berry Global Group from $67.00 to $65.00 and set a “buy” rating for the company in a report on Friday, May 4th. Zacks Investment Research lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Vertical Research initiated coverage on shares of Berry Global Group in a research report on Thursday, April 12th. They issued a “buy” rating on the stock. ValuEngine lowered shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research report on Friday, June 1st. Finally, Credit Suisse Group dropped their target price on shares of Berry Global Group from $73.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Berry Global Group presently has a consensus rating of “Buy” and an average price target of $66.58.

The stock has a market cap of $6.29 billion, a PE ratio of 15.02, a PEG ratio of 0.66 and a beta of 1.00. The company has a current ratio of 1.95, a quick ratio of 1.13 and a debt-to-equity ratio of 4.59.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. Berry Global Group had a return on equity of 41.40% and a net margin of 6.24%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. research analysts expect that Berry Global Group Inc will post 3.64 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Canyon Capital Advisors LLC boosted its position in Berry Global Group by 11.1% during the first quarter. Canyon Capital Advisors LLC now owns 6,438,430 shares of the industrial products company’s stock worth $352,890,000 after acquiring an additional 643,825 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Berry Global Group by 3.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 5,857,695 shares of the industrial products company’s stock worth $343,671,000 after acquiring an additional 210,107 shares during the last quarter. BlackRock Inc. boosted its position in Berry Global Group by 2.6% during the fourth quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock worth $316,046,000 after acquiring an additional 136,987 shares during the last quarter. Luminus Management LLC boosted its position in Berry Global Group by 54.9% during the fourth quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock worth $223,867,000 after acquiring an additional 1,352,044 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Berry Global Group by 13.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,549,158 shares of the industrial products company’s stock worth $194,529,000 after acquiring an additional 417,585 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

About Berry Global Group

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It 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, vinyl-coated and carton sealing, electrical, 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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