Truist Financial Raises Berry Global Group (NYSE:BERY) Price Target to $76.00

Berry Global Group (NYSE:BERY) had its price target increased by equities research analysts at Truist Financial from $74.00 to $76.00 in a research report issued on Monday,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 8.66% from the company’s current price.

Other analysts have also recently issued reports about the company. UBS Group raised their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com started coverage on shares of Berry Global Group in a research report on Wednesday, February 5th. They set a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Citigroup restated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays upped 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 research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

Shares of BERY opened at $69.94 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 3.35. The company’s fifty day simple moving average is $67.38 and its 200 day simple moving average is $67.32. Berry Global Group has a 1-year low of $55.01 and a 1-year high of $73.31. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business earned $1.22 EPS. Berry Global Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts forecast that Berry Global Group will post 6.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 27,437 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Berry Global Group by 13.4% in the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 8,622 shares in the last quarter. Hancock Whitney Corp bought a new position in shares of Berry Global Group in the 3rd quarter valued at $1,065,000. Integrated Investment Consultants LLC acquired a new position in shares of Berry Global Group during the 3rd quarter worth $714,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after buying an additional 37,242 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

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.