Are Berry Global Group Inc. (BERY) stocks a prudent buy?

Berry Global Group Inc. [BERY] stock prices are up 6.00% to $65.39 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The BERY shares have gain 10.25% over the last week, with a monthly amount glided 8.15%, and seem to be holding up well over a long-time horizon.

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On 2, February 2023, Berry Global CEO Tom Salmon to Retire at Year-End 2023. In a post published today on Yahoo Finance, Berry Global Group, Inc. (NYSE: BERY) (“Berry” or the “Company”), a leading supplier of packaging solutions for consumer goods and industrial products, announced today that Thomas “Tom” E. Salmon will retire as Chief Executive Officer and Chairman of the Board effective December 31, 2023. The Board, as part of its long-standing succession planning work, has engaged Spencer Stuart, a leading executive search firm, to assist with the identification of a successor, considering both internal and external candidates.

From an analyst’s perspective:

Berry Global Group Inc. [NYSE: BERY] stock has seen the most recent analyst activity on January 05, 2023, when Truist downgraded its rating to a Hold but kept the price target unchanged to $70 for it. Previously, Credit Suisse upgraded its rating to Outperform on July 20, 2022, and kept the price target unchanged to $78. Raymond James started tracking the stock assigning a Mkt Perform rating. Mizuho initiated its recommendation with a Neutral and recommended $70 as its price target on October 13, 2021. Truist started tracking with a Buy rating for this stock on September 14, 2021, and assigned it a price target of $85. In a note dated April 09, 2021, Goldman initiated an Buy rating and iterated a target price of $75 on this stock.

The stock price of Berry Global Group Inc. [BERY] has been fluctuating between $44.52 and $67.63 over the past year. Currently, Wall Street analysts expect the stock to reach $69.25 within the next 12 months. Berry Global Group Inc. [NYSE: BERY] shares were valued at $65.39 at the most recent close of the market. An investor can expect a potential return of 5.9% based on the average BERY price forecast.

Analyzing the BERY fundamentals

The most recent quarter, Berry Global Group Inc. [NYSE:BERY] reported sales of 3.42 billion, representing a drop of -6.80%. Gross Margin for this corporation currently stands at +14.59% with Operating Margin at +8.73%, Pretax Margin comes in at +6.44%, and Net Margin reading is +5.28%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 63.26 points at the first support level, and at 61.12 for the second support level. However, for the 1st resistance point, the stock is sitting at 66.87, and for the 2nd resistance point, it is at 68.34.

Berry Global Group Inc. [BERY] reported earnings per share of $2.03 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.94/share, meaning a difference of $0.09 and a surprise factor of 4.60%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $1.93 per share as compared to estimates of $1.77 per share, a difference of $0.16 representing a surprise of 9.00%.

Ratios To Look Out For

It’s worth pointing out that Berry Global Group Inc. [NYSE:BERY]’s Current Ratio is 1.80. On the other hand, the Quick Ratio is 1.18, and the Cash Ratio is 0.50. Considering the valuation of this stock, the price to sales ratio is 0.43, the price to book ratio is 1.81 and the P/E (TTM) ratio is 11.23.

Transactions by insiders

The next item on our agenda is insider trading, which has seen 10 insider purchases totaling 19,819 shares and 1 insider sales totaling 10,000 shares over the past 3 months. Recent insider trading involved Greene Jason K., EVP – Chief Legal Officer, that happened on Dec 06 when 10000.0 shares were sold. President, Hill Michael Edward completed a deal on Sep 26 to sell 1000.0 shares. Meanwhile, Chief Executive Officer Salmon Tom sold 24207.0 shares on Aug 26.