Truist Financial Lowers Berry Global Group (NYSE:BERY) Price Target to $71.00

Berry Global Group (NYSE:BERY) had its target price cut by research analysts at Truist Financial from $76.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 3.07% from the stock’s current price.

A number of other brokerages have also recently weighed in on BERY. UBS Group lifted their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. StockNews.com assumed coverage on shares of Berry Global Group in a report on Friday. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $75.13.

Berry Global Group Trading Up 2.8 %

Shares of NYSE BERY traded up $1.86 during midday trading on Tuesday, reaching $68.89. 328,558 shares of the stock were exchanged, compared to its average volume of 1,296,207. The stock has a 50 day moving average price of $69.36 and a 200-day moving average price of $68.54. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $7.98 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group has a 52-week low of $55.68 and a 52-week high of $74.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new position in shares of Berry Global Group during the 4th quarter valued at approximately $105,092,000. Norges Bank bought a new stake in shares of Berry Global Group in the 4th quarter worth about $91,526,000. Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at about $71,882,000. AQR Arbitrage LLC bought a new position in shares of Berry Global Group during the fourth quarter worth about $53,950,000. Finally, Westchester Capital Management LLC acquired a new position in Berry Global Group in the fourth quarter worth about $45,055,000. 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.