Berry Global Group (NYSE:BERY) Price Target Raised to $74.00

Berry Global Group (NYSE:BERY) had its target price raised by stock analysts at Truist Financial from $72.00 to $74.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price points to a potential upside of 15.00% from the company’s current price.

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. Barclays boosted their price target on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, StockNews.com began coverage on Berry Global Group in a research note on Saturday. They issued a “buy” rating for the company. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.60.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $64.35 on Monday. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a market cap of $7.41 billion, a PE ratio of 14.66, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The business has a 50-day simple moving average of $68.01 and a two-hundred day simple moving average of $66.05.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. purchased a new position in shares of Berry Global Group during the 4th quarter valued at approximately $215,000. Franklin Resources Inc. lifted its holdings in Berry Global Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock valued at $21,711,000 after purchasing an additional 3,744 shares in the last quarter. Tidal Investments LLC grew its position in shares of Berry Global Group by 71.0% in the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after purchasing an additional 13,004 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Berry Global Group during the third quarter worth about $463,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Berry Global Group during the 3rd quarter worth about $389,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.