Berry Global Group (NYSE:BERY) Given “Buy” Rating at Goldman Sachs Group

Goldman Sachs Group reiterated their buy rating on shares of Berry Global Group (NYSE:BERY) in a report issued on Thursday morning, The Fly reports. The firm currently has a $52.00 target price on the industrial products company’s stock.

A number of other analysts have also recently commented on BERY. Wells Fargo & Co initiated coverage on Berry Global Group in a research report on Wednesday, July 24th. They issued an outperform rating and a $65.00 price objective for the company. ValuEngine downgraded Berry Global Group from a hold rating to a sell rating in a research report on Wednesday, July 31st. TheStreet downgraded Berry Global Group from a b rating to a c+ rating in a research report on Tuesday, July 30th. Bank of America downgraded Berry Global Group from a buy rating to a neutral rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. initiated coverage on Berry Global Group in a research report on Tuesday, July 16th. They issued an overweight rating and a $63.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Berry Global Group has an average rating of Buy and a consensus target price of $60.38.

Shares of NYSE BERY traded down $0.60 during mid-day trading on Thursday, hitting $40.41. The stock had a trading volume of 7,517 shares, compared to its average volume of 2,133,605. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88. The business has a 50 day moving average price of $48.05 and a two-hundred day moving average price of $51.43. The firm has a market cap of $5.38 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.17. Berry Global Group has a 1 year low of $38.60 and a 1 year high of $59.16.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. Equities research analysts predict that Berry Global Group will post 3.47 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in BERY. NumerixS Investment Technologies Inc purchased a new position in shares of Berry Global Group in the first quarter worth $162,000. JPMorgan Chase & Co. grew its stake in Berry Global Group by 685.1% in the first quarter. JPMorgan Chase & Co. now owns 1,125,757 shares of the industrial products company’s stock valued at $60,644,000 after purchasing an additional 982,361 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in Berry Global Group in the first quarter valued at about $760,000. Marshall Wace North America L.P. grew its stake in Berry Global Group by 4.8% in the first quarter. Marshall Wace North America L.P. now owns 3,521,401 shares of the industrial products company’s stock valued at $189,697,000 after purchasing an additional 162,244 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new position in Berry Global Group in the first quarter valued at about $254,000. Institutional investors own 94.09% of the company’s stock.

About Berry Global Group

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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