Berry Global Group’s (BERY) Neutral Rating Reaffirmed at Citigroup

Berry Global Group (NYSE:BERY)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup in a report released on Monday, Marketbeat reports. They presently have a $76.00 price objective on the industrial products company’s stock. Citigroup’s price target would suggest a potential upside of 7.45% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Truist Financial reiterated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $72.73.

Berry Global Group Stock Performance

NYSE:BERY opened at $70.73 on Monday. The stock’s 50-day moving average is $68.30 and its 200-day moving average is $64.53. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The stock has a market cap of $8.11 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the company’s 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 completion of the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group during the 2nd quarter valued at $27,000. Quest Partners LLC increased its holdings in Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after buying an additional 548 shares during the last quarter. LRI Investments LLC boosted its stake in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group during the 2nd quarter worth approximately $44,000. 95.36% of the stock is currently owned by hedge funds and other 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 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.