Berry Global Group, Inc. (BERY - Free Report) appears to be in good shape with its shares rallying 19.5% over the past six months compared with the industry’s 10.3% increase.
Catalysts Behind the Price Surge
Berry Global is benefiting from its robust product portfolio, the bulk of which includes consumer non-discretionary products. BERY’s Consumer Packaging North America segment is gaining from strength in its food service end market. Strong demand in the hygiene end market is driving the Health, Hygiene & Specialties segment. Stable demand in the retail food and beverage end market is aiding the Consumer Packaging International segment.
BERY utilizes its cash flow to reward its shareholders through dividend payouts and share repurchase programs. In February 2022, the company announced a share repurchase program worth $1 billion. In fiscal 2022 (ended Sep 30, 2022), BERY announced an additional $700 million allocation to its existing share repurchase program. Berry Global bought back shares worth $709 million in fiscal 2022 and $178 million in the first three months of fiscal 2023 (ended Dec 31, 2022). The company also paid $33 million in dividends in the first three months of fiscal 2023.
Zacks Rank and Stocks to Consider
BERY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
Some top-ranked from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank #1. DE’s earnings surprise in the last four quarters was 4.7%, on average.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.6%. The stock has rallied 16.6% in the past six months.
Alamo Group Inc. (ALG - Free Report) presently sports a Zacks Rank of 1. ALG’s earnings surprise in the last four quarters was 6.0%, on average.
In the past 60 days, estimates for Alamo’s fiscal 2023 earnings have increased 7.5%. The stock has gained 38.1% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank of 2 (Buy). AOS’ earnings surprise in the last four quarters was 3.2%, on average.
In the past 60 days, estimates for A. O. Smith’s 2023 earnings have increased 4.7%. The stock has gained 33.6% in the past six months.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
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Berry Global Group, Inc. (BERY - Free Report) appears to be in good shape with its shares rallying 19.5% over the past six months compared with the industry’s 10.3% increase.
Catalysts Behind the Price Surge
Berry Global is benefiting from its robust product portfolio, the bulk of which includes consumer non-discretionary products. BERY’s Consumer Packaging North America segment is gaining from strength in its food service end market. Strong demand in the hygiene end market is driving the Health, Hygiene & Specialties segment. Stable demand in the retail food and beverage end market is aiding the Consumer Packaging International segment.
BERY utilizes its cash flow to reward its shareholders through dividend payouts and share repurchase programs. In February 2022, the company announced a share repurchase program worth $1 billion. In fiscal 2022 (ended Sep 30, 2022), BERY announced an additional $700 million allocation to its existing share repurchase program. Berry Global bought back shares worth $709 million in fiscal 2022 and $178 million in the first three months of fiscal 2023 (ended Dec 31, 2022). The company also paid $33 million in dividends in the first three months of fiscal 2023.
Zacks Rank and Stocks to Consider
BERY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
Some top-ranked from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank #1. DE’s earnings surprise in the last four quarters was 4.7%, on average.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.6%. The stock has rallied 16.6% in the past six months.
Alamo Group Inc. (ALG - Free Report) presently sports a Zacks Rank of 1. ALG’s earnings surprise in the last four quarters was 6.0%, on average.
In the past 60 days, estimates for Alamo’s fiscal 2023 earnings have increased 7.5%. The stock has gained 38.1% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank of 2 (Buy). AOS’ earnings surprise in the last four quarters was 3.2%, on average.
In the past 60 days, estimates for A. O. Smith’s 2023 earnings have increased 4.7%. The stock has gained 33.6% in the past six months.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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