Berry Global Group (NYSE:BERY) PT Raised to $74.00 at Truist Financial

Berry Global Group (NYSE:BERY) had its price objective raised by equities research analysts at Truist Financial from $68.00 to $74.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 6.83% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and a consensus target price of $72.40.

Berry Global Group Stock Up 1.1 %

Shares of BERY stock opened at $69.27 on Tuesday. Berry Global Group has a 12 month low of $53.92 and a 12 month high of $69.93. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market cap of $7.92 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. The stock has a 50 day moving average of $66.49 and a 200-day moving average of $62.30.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the firm earned $1.90 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that Berry Global Group will post 7.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BERY. Goldman Sachs Group Inc. raised its position in Berry Global Group by 6.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after purchasing an additional 48,484 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Berry Global Group in the fourth quarter valued at about $500,000. First Hawaiian Bank lifted its position in Berry Global Group by 11.2% during the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after buying an additional 376 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in Berry Global Group by 7.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 40,640 shares of the industrial products company’s stock worth $2,458,000 after buying an additional 2,642 shares in the last quarter. Finally, Thompson Investment Management Inc. grew its holdings in Berry Global Group by 74.0% during the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after acquiring an additional 46,379 shares during the last quarter. Institutional investors 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.