The stock of Berry Global Group Inc. (NYSE:BERY) increased by $0.54 on Friday to finish at $63.17, up 0.86 percent. The last five days have seen an average of 710,980 shares of common stock traded. 11 times new highs were reached in the current year, with a gain of $2.74. The average number of shares traded over the last 20 days was 1,114,505, while the average volume over the last 50 days totaled 1,442,192.
BERY stock dropped -3.05% since last month. On 08/09/23, the company’s shares reached a one-month low of $60.52. The stock touched a high of $68.01 on 07/25/23, after rallying from a low of $44.52 in 52 weeks. The price of BERY stock has risen by 4.53% or $2.74 this year, reaching a new high 11 times. Still, the stock price is down -7.12% from the 52-week high.
Insider Transactions
BERY stock investors should be aware that Berry Global Group Inc. (BERY) stock had its last reported insider trading activity 13 days ago on Aug 15. On Aug 15, Chief Financial Officer Miles Mark W sold 30,954 shares at $65.76 each. This transaction resulted in the insider making $2,035,535. On Aug 11, Norman William J sold 9,000 shares at a price of US$66.48. After the transaction, the insider now owns 0 shares. President Norman William J had earlier sold 30,000 shares on Aug 10 for $66.11 a share. The transaction was completed for $1,983,300.
Valuation Metrics
Berry Global Group Inc. (BERY) has a trailing price-to-earnings (P/E) ratio of 11.83. Beta for the stock is 1.19. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.57, the price-to-book (PB) ratio of 2.21, and the price-to-cash flow ratio of 7.27.
Company paid $0.25 per share in dividends, remained unchanged from $0.25 last year.
Financial Health
For the three months ended June 29, Berry Global Group Inc.’s quick ratio was 1.10, while its current ratio was 1.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.72, and the total debt to equity ratio is 2.72. As far as profitability goes, gross margin for the trailing twelve months is 17.70% percent. Berry Global Group Inc.’s EBITDA margin for the year ended June 29 was 14.38%, whereas its operating margin stood at 8.60% for the same period. Based on annual data, it had gross profit of $2.37 billion and revenue of $14.49 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BERY’s return on assets (ROA) during the last 12 months has been 3.90%. There was a 8.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 20.00%.
Earnings Surprise
According to Berry Global Group Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.23 billion, while revenues fell by -15.39% to $3.29 billion. It was predicted that Berry Global Group Inc.’s quarterly earnings would be $1.9, but it ended up being $1.98, beating the consensus by -4.00%. EBITDA was $474.0 million for the quarter. At the end of Berry Global Group Inc.’s most recent quarter ended June 29, its liabilities totaled 13.16 billion, while its total debt was $9.97 billion. Equity owned by shareholders amounts to $118.1 million.
Technical Picture
Here’s a quick look at Berry Global Group Inc.’s (BERY) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 44.19%, suggesting the stock is Neutral, with a 12.42% historical volatility rate.
The stochastic %K and %D were 34.43% and 32.50% respectively, while the average true range (ATR) was 1.22. Based on the 14-day stochastic reading of 39.67%, the RSI (14) reading is 45.52%. On the 9-day MACD Oscillator, the stock is at -0.54, and the 14-day reading is at -1.02.
Analyst Ratings
In its most recent analyst report, Truist raised its rating on Berry Global Group Inc. (NYSE: BERY) to a Buy. Prior to this, analysts firm rated the stock as a Hold. Analysts have assigned Berry Global Group Inc. (BERY) an Overweight rating. BERY is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 10 others recommend it as a buy.
What is BERY’s price target for the next 12 months?
The current consensus forecast for the stock is between $65.00 and $86.00, with a median target price of $74.00. In analyzing these forecasts, the average price target given by analysts for Berry Global Group Inc. (BERY) is $74.31.
