We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Berry Global Highlights Measures to Fight Coronavirus Outbreak
Read MoreHide Full Article
Berry Global Group, Inc. (BERY - Free Report) increased its participation in the fight against the coronavirus outbreak. As a major manufacturer and distributor of non-woven specialty materials, the company announced some of its initiatives for expanding the production of materials for face masks.
Inside the Headlines
Berry Global noted that it added meltblown capacity at its Waynesboro facility, with the expansion of its state-of-the-art Meltex platform. Notably, the company swiftly worked on converting the capacity from a pilot line to the one, which is capable of producing at full level. In fact, the production line will help cater to growth in customer demand for meltblown materials required for the production of protective face masks as well as N95 and N99 respirators. Notably, the enhanced capacity at the facility will aid in the production of around 200 million face masks on an annual basis.
In addition, the company noted that its other non-wovens manufacturing facilities are running at enhanced capacity in North America for the material production required for face masks and other healthcare applications.
It is worth mentioning that at the end of January 2020, Berry Global prioritized the production of non-woven healthcare products in Nanhai and Suzhou facilities in China. It also shifted its capacity in the United States for delivering maximum output to cater to the growing demand for healthcare materials.
In addition to these, Berry Global introduced a filter media required for face mask applications, Synergex ONE. Notably, the company will produce the new filter media in its operational facilities based in Europe.
Zacks Rank, Price Performance and Estimate Trend
Berry Global, with a $4.7-billion market capitalization, currently carries a Zacks Rank #3 (Hold).
In the past month, the company rallied 30.3% compared with the industry’s growth of 14.4%.
In the past 30 days, the Zacks Consensus Estimate for its earnings has been lowered by 2.7% to $4.02 for fiscal 2020 and by 1.7% to $4.55 for fiscal 2021.
Tennant delivered a positive earnings surprise of 26.60%, on average, in the trailing four quarters.
Broadwind Energy delivered a positive earnings surprise of 10.42%, on average, in the trailing four quarters.
Griffon delivered a positive earnings surprise of 20.34%, on average, in the trailing four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Berry Global Highlights Measures to Fight Coronavirus Outbreak
Berry Global Group, Inc. (BERY - Free Report) increased its participation in the fight against the coronavirus outbreak. As a major manufacturer and distributor of non-woven specialty materials, the company announced some of its initiatives for expanding the production of materials for face masks.
Inside the Headlines
Berry Global noted that it added meltblown capacity at its Waynesboro facility, with the expansion of its state-of-the-art Meltex platform. Notably, the company swiftly worked on converting the capacity from a pilot line to the one, which is capable of producing at full level. In fact, the production line will help cater to growth in customer demand for meltblown materials required for the production of protective face masks as well as N95 and N99 respirators. Notably, the enhanced capacity at the facility will aid in the production of around 200 million face masks on an annual basis.
In addition, the company noted that its other non-wovens manufacturing facilities are running at enhanced capacity in North America for the material production required for face masks and other healthcare applications.
It is worth mentioning that at the end of January 2020, Berry Global prioritized the production of non-woven healthcare products in Nanhai and Suzhou facilities in China. It also shifted its capacity in the United States for delivering maximum output to cater to the growing demand for healthcare materials.
In addition to these, Berry Global introduced a filter media required for face mask applications, Synergex ONE. Notably, the company will produce the new filter media in its operational facilities based in Europe.
Zacks Rank, Price Performance and Estimate Trend
Berry Global, with a $4.7-billion market capitalization, currently carries a Zacks Rank #3 (Hold).
In the past month, the company rallied 30.3% compared with the industry’s growth of 14.4%.
In the past 30 days, the Zacks Consensus Estimate for its earnings has been lowered by 2.7% to $4.02 for fiscal 2020 and by 1.7% to $4.55 for fiscal 2021.
Key Picks
Some better-ranked stocks are Tennant Company (TNC - Free Report) , Broadwind Energy, Inc. (BWEN - Free Report) and Griffon Corporation (GFF - Free Report) . While Tennant currently sports a Zacks Rank #1 (Strong Buy), Broadwind Energy and Griffon carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Tennant delivered a positive earnings surprise of 26.60%, on average, in the trailing four quarters.
Broadwind Energy delivered a positive earnings surprise of 10.42%, on average, in the trailing four quarters.
Griffon delivered a positive earnings surprise of 20.34%, on average, in the trailing four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>