StockNews.com Initiates Coverage on Berry Global Group (NYSE:BERY)

Analysts at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other brokerages have also recently commented on BERY. UBS Group dropped their target price on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Truist Financial raised their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Monday, January 6th. 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 research note on Wednesday, November 27th. Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Royal Bank of Canada raised their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus price target of $73.30.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $68.51 on Monday. The firm has a 50 day moving average of $67.51 and a 200-day moving average of $66.70. The stock has a market capitalization of $7.92 billion, a PE ratio of 15.61, a PEG ratio of 1.43 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Berry Global Group during the 2nd quarter worth approximately $27,000. UMB Bank n.a. increased its stake in shares of Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 306 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Berry Global Group in the 3rd quarter valued at $75,000. GAMMA Investing LLC increased its stake in shares of Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 908 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Berry Global Group in the 3rd quarter valued at $152,000. 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.