Truist Financial 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 Truist Financial from $74.00 to $76.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 8.66% from the company’s current price.

Several other research analysts have also issued reports on BERY. Barclays increased their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. StockNews.com started coverage on Berry Global Group in a research report on Wednesday, February 5th. They issued a “buy” rating on the stock. UBS Group boosted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Royal Bank of Canada upped their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

BERY opened at $69.94 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The stock’s 50 day moving average price is $67.38 and its two-hundred day moving average price is $67.32. The firm has a market capitalization of $8.10 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15. Berry Global Group has a 12-month low of $55.01 and a 12-month high of $73.31.

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

Institutional Investors Weigh In On Berry Global Group

A number of hedge funds have recently modified their holdings of BERY. FMR LLC boosted its stake in Berry Global Group by 38.4% in the 3rd 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 period. Alpine Associates Management Inc. bought a new stake in shares of Berry Global Group in the fourth quarter valued at about $38,323,000. Calamos Advisors LLC acquired a new position in shares of Berry Global Group during the fourth quarter worth about $35,568,000. State Street Corp boosted its position in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after buying an additional 360,857 shares during the period. Finally, Goldentree Asset Management LP bought a new position in shares of Berry Global Group during the third quarter worth about $24,288,000. Institutional investors and hedge funds 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.