Robert W. Baird Reiterates “Neutral” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “neutral” rating reaffirmed by investment analysts at Robert W. Baird in a report issued on Tuesday, MarketBeat reports. They currently have a $65.00 target price on the industrial products company’s stock, down from their prior target price of $68.00. Robert W. Baird’s price target points to a potential upside of 16.24% from the stock’s current price.

A number of other brokerages have also commented on BERY. Wells Fargo & Company raised their target price on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, December 18th. Wolfe Research assumed coverage on shares of Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Barclays cut their price objective on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Finally, TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $55.92 on Tuesday. The firm has a market cap of $6.48 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The firm’s 50 day simple moving average is $58.94 and its 200-day simple moving average is $61.49. Berry Global Group has a one year low of $53.83 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67.

Berry Global Group (NYSE:BERY) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. As a group, equities analysts predict that Berry Global Group will post 7.42 EPS for the current year.

Insider Transactions at Berry Global Group

In related news, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Jonathan F. Foster acquired 1,000 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the purchase, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in Berry Global Group by 70.2% during the second quarter. State Street Corp now owns 3,423,592 shares of the industrial products company’s stock valued at $220,274,000 after purchasing an additional 1,412,532 shares during the period. Norges Bank acquired a new position in Berry Global Group during the fourth quarter valued at $81,617,000. Marshall Wace LLP lifted its position in Berry Global Group by 1,301.8% during the fourth quarter. Marshall Wace LLP now owns 423,479 shares of the industrial products company’s stock valued at $25,591,000 after purchasing an additional 393,269 shares during the period. Point72 Asset Management L.P. lifted its position in Berry Global Group by 267.3% during the second quarter. Point72 Asset Management L.P. now owns 513,044 shares of the industrial products company’s stock valued at $33,009,000 after purchasing an additional 373,354 shares during the period. Finally, TD Asset Management Inc acquired a new position in Berry Global Group during the fourth quarter valued at $23,803,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.