Berry Global Group (NYSE:BERY) Price Target Increased to $64.00 by Analysts at Wells Fargo & Co

Berry Global Group (NYSE:BERY) had its target price raised by Wells Fargo & Co from $56.00 to $64.00 in a report issued on Monday morning, The Fly reports.

BERY has been the subject of several other reports. Jefferies Financial Group boosted their target price on shares of Berry Global Group from $57.00 to $60.00 and gave the company a buy rating in a research report on Monday. Atlantic Securities assumed coverage on shares of Berry Global Group in a report on Monday, June 1st. They issued an overweight rating and a $63.00 target price for the company. Robert W. Baird restated a buy rating and set a $60.00 price objective on shares of Berry Global Group in a research report on Friday, June 12th. TheStreet raised shares of Berry Global Group from a c+ rating to a b- rating in a report on Monday, July 27th. Finally, Deutsche Bank raised their price target on Berry Global Group from $46.00 to $62.00 and gave the company a buy rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $56.71.

Shares of BERY traded up $0.25 during mid-day trading on Monday, hitting $52.08. 39,627 shares of the company traded hands, compared to its average volume of 1,091,575. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.23 and a beta of 1.38. The stock has a 50-day moving average price of $45.03 and a two-hundred day moving average price of $41.15. Berry Global Group has a 1 year low of $25.00 and a 1 year high of $52.07. The company has a debt-to-equity ratio of 6.69, a quick ratio of 1.22 and a current ratio of 1.84.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, July 31st. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.98 billion. Berry Global Group had a net margin of 5.06% and a return on equity of 33.27%. The firm’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, analysts forecast that Berry Global Group will post 4.08 EPS for the current year.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of Berry Global Group by 9.4% during the first quarter. Wells Fargo & Company MN now owns 1,755,950 shares of the industrial products company’s stock valued at $59,194,000 after buying an additional 150,727 shares during the last quarter. Deutsche Bank AG boosted its holdings in Berry Global Group by 80.8% during the 1st quarter. Deutsche Bank AG now owns 136,270 shares of the industrial products company’s stock valued at $4,595,000 after acquiring an additional 60,911 shares during the period. CIBC World Markets Inc. grew its position in Berry Global Group by 277.4% in the 1st quarter. CIBC World Markets Inc. now owns 40,671 shares of the industrial products company’s stock valued at $1,371,000 after acquiring an additional 29,894 shares during the last quarter. Geode Capital Management LLC increased its stake in Berry Global Group by 2.9% in the first quarter. Geode Capital Management LLC now owns 1,513,782 shares of the industrial products company’s stock worth $51,029,000 after purchasing an additional 43,130 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Berry Global Group by 1.7% during the first quarter. Alliancebernstein L.P. now owns 2,606,937 shares of the industrial products company’s stock worth $87,880,000 after purchasing an additional 42,667 shares during the last quarter.

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.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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