Berry Global Group (NYSE:BERY) Raised to Buy at StockNews.com

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

Other analysts also recently issued reports about the company. Truist Financial restated a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Royal Bank of Canada raised their price target 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. Finally, Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.73.

Berry Global Group Trading Down 1.1 %

Shares of NYSE BERY opened at $70.73 on Monday. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. The business’s 50 day moving average is $68.30 and its two-hundred day moving average is $64.53. The stock has a market capitalization of $8.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.40 and a beta of 1.14.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the 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 directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in Berry Global Group in the 2nd quarter worth $27,000. Quest Partners LLC raised its stake in shares of 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 worth $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group in the second quarter valued at approximately $42,000. Finally, American Capital Advisory LLC acquired a new position in Berry Global Group in the 2nd quarter worth approximately $44,000. 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.