Berry Global Group (BERY) Downgraded to “C+” at TheStreet

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TheStreet downgraded shares of Berry Global Group (NYSE:BERY) from a b rating to a c+ rating in a research note issued to investors on Monday.

A number of other research analysts also recently weighed in on BERY. KeyCorp reissued a hold rating on shares of Berry Global Group in a report on Friday, August 3rd. Cfra reissued a buy rating and issued a $57.00 target price on shares of Berry Global Group in a report on Thursday, September 6th. ValuEngine raised Berry Global Group from a strong sell rating to a sell rating in a report on Thursday, September 13th. Finally, Zacks Investment Research raised Berry Global Group from a sell rating to a hold rating in a report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $65.75.

BERY stock opened at $43.10 on Monday. Berry Global Group has a fifty-two week low of $40.50 and a fifty-two week high of $61.71. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.19 and a current ratio of 2.01. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.55 and a beta of 1.12.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.09). Berry Global Group had a net margin of 6.15% and a return on equity of 35.88%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Berry Global Group will post 3.35 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. increased its position in Berry Global Group by 5.6% in the second quarter. First Republic Investment Management Inc. now owns 24,033 shares of the industrial products company’s stock worth $1,104,000 after buying an additional 1,282 shares in the last quarter. US Bancorp DE grew its position in shares of Berry Global Group by 6.8% during the second quarter. US Bancorp DE now owns 22,939 shares of the industrial products company’s stock worth $1,054,000 after purchasing an additional 1,462 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Berry Global Group by 18.5% during the third quarter. Alps Advisors Inc. now owns 9,670 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 1,513 shares in the last quarter. Legal & General Group Plc grew its position in shares of Berry Global Group by 1.6% during the first quarter. Legal & General Group Plc now owns 97,221 shares of the industrial products company’s stock worth $5,328,000 after purchasing an additional 1,558 shares in the last quarter. Finally, MAI Capital Management grew its position in shares of Berry Global Group by 40.1% during the second quarter. MAI Capital Management now owns 6,237 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 1,785 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Berry Global Group Company Profile

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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