Truist Securities Boosts Berry Global Group (NYSE:BERY) Price Target to $88.00

Berry Global Group (NYSE:BERY) had its price target raised by Truist Securities from $81.00 to $88.00 in a research report report published on Wednesday, Stock Target Advisor reports. The brokerage currently has a buy rating on the industrial products company’s stock. Truist Securities also issued estimates for Berry Global Group’s Q2 2022 earnings at $1.78 EPS, Q3 2022 earnings at $2.13 EPS, Q4 2022 earnings at $2.11 EPS, FY2022 earnings at $7.50 EPS, Q1 2023 earnings at $1.56 EPS, Q2 2023 earnings at $1.87 EPS, Q3 2023 earnings at $2.23 EPS, Q4 2023 earnings at $2.19 EPS, FY2023 earnings at $7.85 EPS and FY2024 earnings at $8.25 EPS.

A number of other analysts have also recently weighed in on BERY. Wells Fargo & Company increased their price objective on shares of Berry Global Group from $78.00 to $86.00 and gave the stock an overweight rating in a report on Wednesday. Citigroup increased their target price on shares of Berry Global Group from $89.00 to $96.00 in a research report on Tuesday, January 4th. Raymond James started coverage on shares of Berry Global Group in a research report on Wednesday, November 24th. They issued a market perform rating for the company. Truist increased their target price on shares of Berry Global Group from $81.00 to $88.00 and gave the company a buy rating in a research report on Wednesday. Finally, Mizuho started coverage on shares of Berry Global Group in a research report on Tuesday, October 12th. They issued a neutral rating and a $70.00 target price for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $81.17.

BERY stock opened at $72.55 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.60 and a debt-to-equity ratio of 2.97. Berry Global Group has a fifty-two week low of $48.65 and a fifty-two week high of $74.73. The firm’s 50-day simple moving average is $70.15 and its 200 day simple moving average is $66.51. The stock has a market cap of $9.80 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.99 and a beta of 1.32.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Thursday, November 18th. The industrial products company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.02. Berry Global Group had a net margin of 5.29% and a return on equity of 30.09%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company earned $1.59 EPS. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities analysts forecast that Berry Global Group will post 7.41 EPS for the current fiscal year.

In other Berry Global Group news, President Curt Begle sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $71.99, for a total value of $1,007,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 42,000 shares of company stock valued at $2,995,580. Insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Berry Global Group by 2.4% in the second quarter. Vanguard Group Inc. now owns 12,500,393 shares of the industrial products company’s stock worth $815,275,000 after buying an additional 295,142 shares during the period. Turtle Creek Asset Management Inc. boosted its holdings in shares of Berry Global Group by 10.0% in the third quarter. Turtle Creek Asset Management Inc. now owns 5,851,031 shares of the industrial products company’s stock worth $356,211,000 after buying an additional 530,800 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Berry Global Group by 12.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,510,950 shares of the industrial products company’s stock worth $213,747,000 after purchasing an additional 377,947 shares in the last quarter. FMR LLC lifted its position in shares of Berry Global Group by 25.1% in the second quarter. FMR LLC now owns 2,818,813 shares of the industrial products company’s stock worth $183,843,000 after purchasing an additional 566,315 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Berry Global Group by 19.5% in the second quarter. Wells Fargo & Company MN now owns 2,128,354 shares of the industrial products company’s stock worth $138,811,000 after purchasing an additional 347,345 shares in the last quarter. Institutional investors own 94.64% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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