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

Analysts at StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued on Sunday. The firm set a “buy” rating on the industrial products company’s stock.

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

Berry Global Group Price Performance

Berry Global Group stock opened at $65.41 on Friday. 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 $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 business’s fifty day moving average is $67.56 and its two-hundred day moving average is $66.23. 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 the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new position in Berry Global Group in the second quarter valued at about $27,000. Quest Partners LLC grew its stake in Berry Global Group by 54,800.0% in 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. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group in the second quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new position in Berry Global Group in the third quarter valued at about $75,000. Finally, GAMMA Investing LLC grew its stake in Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 908 shares during the period. Institutional investors 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.