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

Berry Global Group (NYSE:BERY) had its target price raised by investment analysts at Barclays from $64.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential upside of 6.04% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Truist Financial reiterated a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada raised their price target 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. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.73.

Berry Global Group Price Performance

Shares of BERY opened at $70.73 on Wednesday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The stock has a market cap of $8.11 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The firm has a fifty day moving average price of $68.37 and a 200 day moving average price of $64.60.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BERY. EdgePoint Investment Group Inc. lifted its holdings in shares of Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after acquiring an additional 1,393,955 shares during the period. FMR LLC increased its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after purchasing an additional 588,114 shares during the last quarter. Finally, Eminence Capital LP grew its stake in shares of Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after buying an additional 492,793 shares during the period. 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.