Truist Financial Increases Berry Global Group (NYSE:BERY) Price Target to $74.00

Berry Global Group (NYSE:BERY) had its target price increased by research analysts at Truist Financial from $68.00 to $74.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 6.02% from the company’s current price.

Other equities analysts also recently issued reports about the company. 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 on the stock. UBS Group cut their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.40.

Berry Global Group Stock Performance

Shares of BERY stock opened at $69.80 on Tuesday. The business’s fifty day simple moving average is $66.62 and its 200-day simple moving average is $62.37. The company has a market cap of $7.99 billion, a PE ratio of 16.58, a PEG ratio of 1.10 and a beta of 1.15. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group has a 12-month low of $53.92 and a 12-month high of $70.74.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Analysts expect that Berry Global Group will post 7.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Berry Global Group

Hedge funds have recently modified their holdings of the company. FORA Capital LLC purchased a new stake in shares of Berry Global Group during the 1st quarter worth about $1,492,000. Thompson Investment Management Inc. lifted its stake in Berry Global Group by 74.0% in the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock valued at $6,595,000 after buying an additional 46,379 shares in the last quarter. Sei Investments Co. lifted its stake in Berry Global Group by 8.3% in the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after buying an additional 12,385 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Berry Global Group by 11.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after acquiring an additional 13,398 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Berry Global Group by 33.8% in the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 9,483 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.