What Technical Indicators Show About Berry Global Group Inc. (BERY)?

Berry Global Group Inc. (NYSE:BERY) finished Friday with an addition of $1.2 to close at $66.91, an upside of 1.83 percent. An average of 1,096,620 shares of common stock have been traded in the last five days. There was a gain of $3.39 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 799,570 shares traded, while the 50-day average volume stands at 777,676.

BERY stock has increased by 6.21% in the last month. The company shares reached their 1-month lowest point of $59.60 on 10/13/21. With the stock rallying to its 52-week high on 05/17/21, shares of the company touched a low of $45.68 and a high of $70.90 in 52 weeks. It has reached a new high 19 times so far this year and achieved 19.08% or $10.72 in price. In spite of this, the price is down -5.63% from the 52-week high.


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Insider Transactions

73 days have passed since Berry Global Group Inc. (BERY) last reported insider trading activity. Greene Jason K., who is EVP – Chief Legal Officer, most recently acquired $11,410 shares at $65.48 per share on Aug 11. In this transaction, the insider spent $747,155. President, Norman William J, disposed of 18,000 shares at a price of $68.92 on May 14. The insider now owns more than $1,240,506 worth of shares. Prior to that, President Begle Curt went on to Sale 18,000 shares at $65.00 each on May 07. An amount of $1,170,000 was transacted.

Valuation Metrics

Berry Global Group Inc. (BERY) has a trailing price-to-earnings (P/E) ratio of 13.12, which compares with the 18.20 for the broader industry and 32.04 for the sector. In the last five years, Berry Global Group Inc.’s PE ratio has ranged between 27.48 and 9.787. The stock’s beta is 1.34. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.67, the price-to-book (PB) ratio at 3.06.

The quick ratio of Berry Global Group Inc. for the three months ended June 29 was 1.00, and the current ratio was 1.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 3.21 and a total debt to equity ratio of 3.28 for the quarter ending June 29. Berry Global Group Inc.’s EBITDA margin for the year ending June 29 is 17.96%. Its gross profit as reported stood at $2.41 billion compared to revenue of $11.71 billion.

Earnings Surprise

For the three-month period that ended June 29, Berry Global Group Inc. had $9.47 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $194.0 million in the quarter, while revenues were grew 1.55%. The analyst consensus anticipated Berry Global Group Inc.’s latest quarter earnings to come in at $1.5 per share, but it turned out to be $1.53, a 2.00% surprise. For the quarter, EBITDA amounted to $555.0 million. Shareholders own equity worth $135.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Berry Global Group Inc. (BERY) price momentum. RSI 9-day as of the close on 22 October was 78.24%, suggesting the stock is Overbought, with historical volatility in this time frame at 14.87%.

As of today, BERY’s price is $65.41 +5.34% or $3.39 from its 5-day moving average. BERY is currently trading +7.24% higher than its 20-day SMA and -1.81% lower than its 100-day SMA. However, the stock’s current price level is +1.70% above the SMA50 and +21.83% above the SMA200.

The stochastic %K and %D were 93.04% and 90.69%, respectively, and the average true range (ATR) was 1.50. With the 14-day stochastic at 93.60% and the average true range at 1.45, the RSI (14) stands at 69.47%. The stock has reached 2.57 on the 9-day MACD Oscillator while the 14-day reading was at 3.45.

Analyst Ratings

Mizuho launched coverage on Berry Global Group Inc. (NYSE: BERY) in its analyst report released on October 13, 2021. The firm assigned the stock a a Neutral rating. The consensus rating for Berry Global Group Inc. (BERY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BERY, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 13 others rate it as a “buy”.

What is BERY’s price target for the next 12 months?

Analysts predict a range of price targets between $70.00 and $85.00, with a median target of $81.00. Taking a look at these predictions, the average price target given by analysts for Berry Global Group Inc. (BERY) stock is $79.65.

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