BMO Capital Believes Berry Global Group (BERY) Still Has Room to Grow


BMO Capital analyst Mark Wilde maintained a Buy rating on Berry Global Group (BERY) today and set a price target of $78.00. The company’s shares closed last Thursday at $66.59, close to its 52-week high of $67.24.

According to TipRanks.com, Wilde is a 5-star analyst with an average return of 22.1% and a 73.4% success rate. Wilde covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Graphic Packaging, and Pactiv Evergreen.

Currently, the analyst consensus on Berry Global Group is a Strong Buy with an average price target of $75.00, which is a 12.3% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a $78.00 price target.

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Based on Berry Global Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.14 billion and net profit of $130 million. In comparison, last year the company earned revenue of $2.82 billion and had a net profit of $47 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BERY in relation to earlier this year. Most recently, in March 2021, Curt Begle, the President of BERY bought 18,000 shares for a total of $517,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Berry Global Group, Inc. engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Health, Hygiene & Specialties, and Engineered Materials. The Consumer Packaging International segment consists of containers, closures, dispensing systems, pharmaceutical devices and packaging, polythene films, and technical components. The Consumer Packaging North America segment consists of containers, foodservice items, closures, over caps, bottles, prescription vials, and tubes. The Engineered Materials segment consists of tapes and adhesives, polyethylene-based film products, can liners, and specialty coated and laminated products. The Health, Hygiene & Specialties segment consists of nonwoven specialty materials and films used in hygiene, infection prevention, personal care, industrial, construction, and filtration applications. The company was founded on November 18, 2005 and is headquartered in Evansville, IN.

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