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

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

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lifted 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. Barclays raised their price target on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group downgraded shares of 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 report on Friday, November 22nd. Finally, Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average target price of $73.73.

Berry Global Group Trading Down 1.0 %

Shares of Berry Global Group stock opened at $71.28 on Tuesday. The stock’s 50-day simple moving average is $68.69 and its 200 day simple moving average is $64.93. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.26 and a current ratio of 1.25. The stock has a market capitalization of $8.21 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.44 and a beta of 1.14.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BERY. EdgePoint Investment Group Inc. boosted its holdings in Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. FMR LLC boosted its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after purchasing an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after buying an additional 588,114 shares during the period. Finally, Eminence Capital LP grew its holdings in Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares during the period. 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.