Truist Financial Forecasts Strong Price Appreciation for Berry Global Group (NYSE:BERY) Stock

Berry Global Group (NYSE:BERY) had its target price boosted by Truist Financial from $72.00 to $74.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 12.07% from the stock’s current price.

BERY has been the subject of a number of other research reports. Barclays raised their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, StockNews.com assumed coverage on shares of Berry Global Group in a research report on Saturday. They set a “buy” rating for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $73.60.

Berry Global Group Stock Up 1.4 %

Shares of NYSE BERY opened at $66.03 on Monday. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The firm’s 50-day simple moving average is $67.84 and its 200 day simple moving average is $66.16. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of the company’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 completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors have recently added to or reduced their stakes in BERY. Geode Capital Management LLC increased its holdings in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after purchasing an additional 27,437 shares in the last quarter. Hancock Whitney Corp bought a new position in shares of Berry Global Group during the third quarter worth about $1,065,000. Integrated Investment Consultants LLC acquired a new stake in Berry Global Group in the 3rd quarter valued at approximately $714,000. Allspring Global Investments Holdings LLC lifted its stake in Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after acquiring an additional 37,242 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Berry Global Group by 370.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after acquiring an additional 90,428 shares during the last quarter. 95.36% of the stock is owned by 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.