StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

Research analysts at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Wednesday. The firm set a “buy” rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on BERY. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Barclays raised their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and an average target price of $73.73.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $69.45 on Wednesday. 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 firm has a market cap of $8.00 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The business has a 50-day simple moving average of $68.93 and a two-hundred day simple moving average of $65.36. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently modified their holdings of BERY. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group during the 2nd quarter worth about $27,000. Quest Partners LLC boosted its position 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 buying an additional 548 shares during the period. LRI Investments LLC grew its stake in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group in the second quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the 2nd quarter worth approximately $44,000. Institutional investors own 95.36% of the company’s stock.

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.