Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a note issued to investors on Saturday. The brokerage set a “buy” rating on the industrial products company’s stock.

A number of other analysts have also commented on the company. Truist Financial reaffirmed a “hold” rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Barclays upped their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Citigroup restated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Royal Bank of Canada lifted 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. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.40.

Berry Global Group Stock Performance

Shares of BERY stock opened at $64.35 on Friday. The firm has a 50 day moving average of $68.01 and a 200-day moving average of $66.02. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BERY. Commonwealth Equity Services LLC increased its stake in shares of Berry Global Group by 7.7% during the second quarter. Commonwealth Equity Services LLC now owns 10,459 shares of the industrial products company’s stock valued at $616,000 after buying an additional 748 shares during the period. Natixis Advisors LLC lifted its holdings in Berry Global Group by 5.5% in the second quarter. Natixis Advisors LLC now owns 57,170 shares of the industrial products company’s stock worth $3,364,000 after buying an additional 2,997 shares during the period. Foster & Motley Inc. bought a new stake in Berry Global Group during the 2nd quarter valued at approximately $430,000. National Bank of Canada FI raised its position in shares of Berry Global Group by 3.1% in the 2nd quarter. National Bank of Canada FI now owns 26,725 shares of the industrial products company’s stock worth $1,553,000 after acquiring an additional 794 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Berry Global Group by 79.5% in the 2nd quarter. Victory Capital Management Inc. now owns 69,899 shares of the industrial products company’s stock valued at $4,114,000 after purchasing an additional 30,949 shares during the period. 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.