JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “overweight” rating restated by analysts at JPMorgan Chase & Co. in a note issued to investors on Monday, MarketBeat reports. They currently have a $76.00 price objective on the industrial products company’s stock, up from their previous price objective of $70.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.45% from the company’s previous close.

Several other research analysts also recently weighed in on the company. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Finally, Truist Financial reaffirmed a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.73.

Berry Global Group Trading Down 1.1 %

Shares of BERY opened at $70.73 on Monday. The firm has a 50 day simple moving average of $68.30 and a 200-day simple moving average of $64.53. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several hedge funds have recently bought and sold shares of BERY. Altshuler Shaham Ltd acquired a new stake in Berry Global Group in the second quarter worth about $27,000. Quest Partners LLC increased its stake in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the period. LRI Investments LLC lifted its position in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group in the 2nd quarter worth $44,000. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Company Profile

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.