Berry Global Group (NYSE:BERY) Upgraded by StockNews.com to Buy Rating

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 Friday.

BERY has been the subject of several other research reports. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Berry Global Group has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Price Performance

Berry Global Group stock traded up $0.42 during midday trading on Friday, reaching $66.75. 845,608 shares of the stock were exchanged, compared to its average volume of 985,109. The company’s fifty day moving average is $67.90 and its 200-day moving average is $64.03. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $71.63. The firm has a market cap of $7.65 billion, a PE ratio of 14.26, a PEG ratio of 1.10 and a beta of 1.14.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group in the 2nd quarter worth about $27,000. Quest Partners LLC boosted its holdings in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC boosted its holdings 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 worth $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Berry Global Group in the second quarter worth $42,000. Finally, American Capital Advisory LLC bought a new stake in Berry Global Group during the second quarter valued at approximately $44,000. Hedge funds and other 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.