Berry Global Group (NYSE:BERY) PT Lowered to $68.00

Berry Global Group (NYSE:BERYGet Rating) had its target price lowered by stock analysts at Truist Financial to $68.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Truist Financial’s price target indicates a potential upside of 24.43% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup reduced their target price on shares of Berry Global Group from $72.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Morgan Stanley reduced their target price on shares of Berry Global Group from $61.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 18th. Barclays reduced their target price on shares of Berry Global Group from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Berry Global Group from $69.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Finally, Credit Suisse Group raised shares of Berry Global Group from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group has a consensus rating of “Moderate Buy” and an average target price of $66.83.

Berry Global Group Stock Performance

BERY opened at $54.65 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.79 and a quick ratio of 1.04. The firm has a fifty day moving average price of $49.07 and a 200 day moving average price of $53.63. Berry Global Group has a 1 year low of $44.52 and a 1 year high of $74.73. The stock has a market cap of $7.39 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.71 and a beta of 1.18.

Insiders Place Their Bets

In other news, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $16.00, for a total transaction of $387,312.00. Following the transaction, the chief executive officer now directly owns 66,193 shares in the company, valued at $1,059,088. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Michael Edward Hill sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $47.17, for a total transaction of $47,170.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $16.00, for a total transaction of $387,312.00. Following the transaction, the chief executive officer now owns 66,193 shares in the company, valued at $1,059,088. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BERY. Amitell Capital Pte Ltd purchased a new stake in shares of Berry Global Group during the 1st quarter worth $34,000. Wipfli Financial Advisors LLC acquired a new position in shares of Berry Global Group during the 3rd quarter worth $30,000. Brown Brothers Harriman & Co. acquired a new position in shares of Berry Global Group during the 1st quarter worth $38,000. Ronald Blue Trust Inc. acquired a new position in shares of Berry Global Group during the 2nd quarter worth $40,000. Finally, American National Bank acquired a new position in shares of Berry Global Group during the 3rd quarter worth $33,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Company Profile

(Get Rating)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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