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Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Berry Global (BERY) Up 19.5% in 6 Months: What's Aiding It?
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.
Image Source: Zacks Investment Research
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.