Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Friday. The brokerage set a “buy” rating on the industrial products company’s stock.

BERY has been the subject of several other reports. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.40.

Berry Global Group Price Performance

NYSE BERY opened at $65.02 on Friday. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The stock has a 50-day moving average of $68.42 and a 200 day moving average of $65.84. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.38 and a beta of 1.14.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction 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 sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Berry Global Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock valued at $21,711,000 after acquiring an additional 3,744 shares during the period. Tidal Investments LLC raised its stake in Berry Global Group by 71.0% during the 3rd quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after purchasing an additional 13,004 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Berry Global Group during the 3rd quarter valued at approximately $463,000. Sanctuary Advisors LLC purchased a new position in Berry Global Group in the 3rd quarter worth approximately $389,000. Finally, Hohimer Wealth Management LLC bought a new position in Berry Global Group in the 3rd quarter worth approximately $367,000. Hedge funds and other 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.