Truist Financial Raises Berry Global Group (NYSE:BERY) Price Target to $74.00

Berry Global Group (NYSE:BERY) had its price target upped by analysts at Truist Financial from $73.00 to $74.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 14.36% from the stock’s current price.

A number of other research firms also recently weighed in on BERY. Jefferies Financial Group reduced their target price on shares of Berry Global Group from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Citigroup cut their price objective on shares of Berry Global Group from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Royal Bank of Canada lowered their target price on shares of Berry Global Group from $78.00 to $74.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price objective on Berry Global Group from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.23.

Berry Global Group Trading Up 0.1 %

NYSE BERY traded up $0.09 during trading on Tuesday, hitting $64.71. The company had a trading volume of 314,195 shares, compared to its average volume of 989,106. The company’s fifty day moving average is $58.98 and its 200-day moving average is $61.45. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.20. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 2.72. Berry Global Group has a one year low of $53.83 and a one year high of $68.01.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, November 16th. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Berry Global Group had a net margin of 5.05% and a return on equity of 27.67%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm earned $2.19 earnings per share. Berry Global Group’s revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Berry Global Group will post 7.27 earnings per share for the current year.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $54.57, for a total value of $763,980.00. Following the completion of the sale, the director now directly owns 27,258 shares in the company, valued at $1,487,469.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BERY. HRT Financial LP raised its stake in Berry Global Group by 89.8% during the 1st quarter. HRT Financial LP now owns 104,403 shares of the industrial products company’s stock worth $6,149,000 after acquiring an additional 49,392 shares during the period. Atria Investments Inc lifted its stake in shares of Berry Global Group by 9.1% during the 1st quarter. Atria Investments Inc now owns 72,469 shares of the industrial products company’s stock valued at $4,268,000 after buying an additional 6,063 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Berry Global Group by 23.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,287 shares of the industrial products company’s stock worth $662,000 after buying an additional 1,967 shares during the period. MQS Management LLC purchased a new stake in Berry Global Group in the 1st quarter worth $333,000. Finally, Raymond James & Associates increased its stake in Berry Global Group by 8.8% in the 2nd quarter. Raymond James & Associates now owns 193,152 shares of the industrial products company’s stock worth $12,427,000 after buying an additional 15,602 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.