Berry Global Group Inc (BERY) Shares Down Despite Recent Market Volatility

Berry Global Group Inc (NYSE: BERY) has seen a decline in its stock price by -0.65 in relation to its previous close of 59.66. However, the company has experienced a 0.07% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2024-02-11 that On February 7, the company announced the spin-off and merger of its Health, Hygiene and Specialties segment with Glatfelter. The value for Berry Group’s shareholders is $1.9 billion at Glatfelter’s current share price which is close to the $2 billion price tag estimated by analysts back in September. Some of the 13% drop in Berry Group’s valuation on February 7 and 8 can be attributed to the weak Q1 FY24 financial results but the stock looks oversold here.

Is It Worth Investing in Berry Global Group Inc (NYSE: BERY) Right Now?

Berry Global Group Inc (NYSE: BERY) has a price-to-earnings ratio of 12.75x that is above its average ratio. Additionally, the 36-month beta value for BERY is 1.23. There are mixed opinions on the stock, with 8 analysts rating it as a “buy,” 4 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”

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The public float for BERY is 115.53M and currently, short sellers hold a 2.97% ratio of that float. The average trading volume of BERY on April 04, 2024 was 1.20M shares.

BERY’s Market Performance

BERY stock saw an increase of 0.07% in the past week, with a monthly gain of 2.77% and a quarterly increase of -11.33%. The volatility ratio for the week is 1.75%, and the volatility levels for the last 30 days are 1.86% for Berry Global Group Inc (BERY). The simple moving average for the past 20 days is -0.77% for BERY’s stock, with a -5.18% simple moving average for the past 200 days.

Analysts’ Opinion of BERY

Many brokerage firms have already submitted their reports for BERY stocks, with Truist repeating the rating for BERY by listing it as a “Hold.” The predicted price for BERY in the upcoming period, according to Truist is $68 based on the research report published on March 27, 2024 of the current year 2024.

RBC Capital Mkts, on the other hand, stated in their research note that they expect to see BERY reach a price target of $62, previously predicting the price at $72. The rating they have provided for BERY stocks is “Sector Perform” according to the report published on March 15th, 2024.

BERY Trading at -2.49% from the 50-Day Moving Average

After a stumble in the market that brought BERY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.25% of loss for the given period.

Volatility was left at 1.86%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares surge +0.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.88% lower at present.

During the last 5 trading sessions, BERY rose by +0.07%, which changed the moving average for the period of 200-days by -6.46% in comparison to the 20-day moving average, which settled at $59.74. In addition, Berry Global Group Inc saw -12.05% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at BERY starting from Steele Robert Allan, who sale 14,000 shares at the price of $58.93 back on Feb 24 ’24. After this action, Steele Robert Allan now owns 4,728 shares of Berry Global Group Inc, valued at $825,020 using the latest closing price.

FOSTER JONATHAN F, the Director of Berry Global Group Inc, purchase 1,000 shares at $58.49 during a trade that took place back on Feb 12 ’24, which means that FOSTER JONATHAN F is holding 5,728 shares at $58,490 based on the most recent closing price.

Stock Fundamentals for BERY

Current profitability levels for the company are sitting at:

  • 0.08 for the present operating margin
  • 0.18 for the gross margin

The net margin for Berry Global Group Inc stands at 0.05. The total capital return value is set at 0.07. Equity return is now at value 17.06, with 3.45 for asset returns.

Based on Berry Global Group Inc (BERY), the company’s capital structure generated 0.74 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 2.78. The interest coverage ratio of the stock is 3.34.

Currently, EBITDA for the company is 1.97 billion with net debt to EBITDA at 4.54. When we switch over and look at the enterprise to sales, we see a ratio of 1.25. The receivables turnover for the company is 8.32for trailing twelve months and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.67.

Conclusion

In conclusion, Berry Global Group Inc (BERY) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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