Berry Global Group (NYSE:BERY) Lowered to Neutral Rating by UBS Group

Berry Global Group (NYSE:BERY) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $75.00 price objective on the industrial products company’s stock. UBS Group’s target price indicates a potential upside of 5.74% from the company’s current price.

Several other equities analysts also recently commented on BERY. Royal Bank of Canada upped their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday. Truist Financial restated a “hold” rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research note on Wednesday. Morgan Stanley started 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 for the company. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Trading Up 2.8 %

NYSE BERY opened at $70.93 on Friday. The firm has a market capitalization of $8.13 billion, a P/E ratio of 16.16, a PEG ratio of 1.09 and a beta of 1.14. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The business has a fifty day simple moving average of $67.99 and a 200 day simple moving average of $64.27. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $72.50.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the business’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 directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of BERY. Russell Investments Group Ltd. boosted its position in shares of Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 9,483 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Berry Global Group by 39.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock worth $1,162,000 after acquiring an additional 5,466 shares during the period. Quadrature Capital Ltd raised its holdings in shares of Berry Global Group by 11.8% during the first quarter. Quadrature Capital Ltd now owns 8,285 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 872 shares during the last quarter. LRI Investments LLC bought a new position in Berry Global Group during the first quarter valued at approximately $38,000. Finally, BOKF NA boosted its holdings in Berry Global Group by 26.3% in the first quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock worth $4,809,000 after purchasing an additional 16,497 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Company Profile

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.