StockNews.com Upgrades Berry Global Group (NYSE:BERY) to “Buy”

Berry Global Group (NYSE:BERY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

BERY has been the subject of a number of other reports. Truist Financial lifted their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Seven equities research 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, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Performance

Shares of BERY opened at $66.80 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $71.63. The company has a 50-day simple moving average of $67.90 and a 200-day simple moving average of $64.08. The company has a market capitalization of $7.66 billion, a PE ratio of 14.27, a P/E/G ratio of 1.10 and a beta of 1.14.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the business’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 of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after acquiring an additional 27,437 shares during the last quarter. M&T Bank Corp increased its stake in Berry Global Group by 3.1% in the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 173 shares during the last quarter. Guardian Wealth Management Inc. lifted its position in Berry Global Group by 1.2% during the third quarter. Guardian Wealth Management Inc. now owns 29,990 shares of the industrial products company’s stock worth $2,039,000 after buying an additional 367 shares during the period. Barclays PLC boosted its stake in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after buying an additional 47,476 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Berry Global Group by 8.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,785 shares of the industrial products company’s stock valued at $3,792,000 after buying an additional 4,458 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.