UBS Group Issues Pessimistic Forecast for Berry Global Group (NYSE:BERY) Stock Price

Berry Global Group (NYSE:BERY) had its target price reduced by stock analysts at UBS Group from $75.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective points to a potential upside of 10.07% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial raised their price target on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, StockNews.com began coverage on shares of Berry Global Group in a research report on Saturday, January 4th. They set a “buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.30.

Berry Global Group Trading Down 1.3 %

Shares of NYSE BERY opened at $65.41 on Friday. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The firm has a market capitalization of $7.54 billion, a P/E ratio of 14.90, 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 current ratio of 1.25 and a quick ratio of 0.80. The company’s 50 day simple moving average is $67.56 and its 200 day simple moving average is $66.23.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its position in Berry Global Group by 7.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,459 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 748 shares during the period. Victory Capital Management Inc. raised its stake in Berry Global Group by 79.5% during the second quarter. Victory Capital Management Inc. now owns 69,899 shares of the industrial products company’s stock worth $4,114,000 after buying an additional 30,949 shares during the last quarter. Savant Capital LLC acquired a new position in Berry Global Group in the second quarter valued at $573,000. Quest Partners LLC boosted its position in 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 last quarter. Finally, AGF Management Ltd. boosted its position in Berry Global Group by 69.4% during the second quarter. AGF Management Ltd. now owns 27,169 shares of the industrial products company’s stock valued at $1,599,000 after acquiring an additional 11,127 shares during the last quarter. 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.