Berry Global Group (NYSE:BERY) PT Raised to $78.00

Posted by Defense World Staff on Aug 12th, 2023

Berry Global Group (NYSE:BERY – Get Free Report) had its price objective raised by analysts at Royal Bank of Canada from $73.00 to $78.00 in a report released on Thursday, Marketbeat.com reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 17.79% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Truist Financial raised shares of Berry Global Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $73.00 in a report on Wednesday, May 24th. UBS Group cut their price target on shares of Berry Global Group from $75.00 to $73.00 in a report on Monday, May 8th. Citigroup upped their target price on shares of Berry Global Group from $72.00 to $79.00 in a report on Monday, July 10th. Bank of America upped their target price on shares of Berry Global Group from $70.00 to $75.00 in a report on Monday, July 10th. Finally, Jefferies Financial Group upped their target price on shares of Berry Global Group from $76.00 to $87.00 in a report on Tuesday, July 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.46.

View Our Latest Stock Analysis on BERY

Berry Global Group Stock Performance

BERY opened at $66.22 on Thursday. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.95 and a quick ratio of 1.15. The firm has a fifty day moving average price of $64.18 and a 200 day moving average price of $60.90. Berry Global Group has a 1 year low of $44.52 and a 1 year high of $68.01. The stock has a market cap of $7.89 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.87 and a beta of 1.19.

Berry Global Group (NYSE:BERY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.07). The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Berry Global Group had a return on equity of 27.96% and a net margin of 5.05%. Berry Global Group’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 EPS. Equities research analysts anticipate that Berry Global Group will post 7.3 earnings per share for the current year.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, insider Jason K. Greene sold 520 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $68.01, for a total value of $35,365.20. Following the transaction, the insider now owns 250 shares of the company’s stock, valued at $17,002.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jason K. Greene sold 520 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $68.01, for a total transaction of $35,365.20. Following the sale, the insider now owns 250 shares of the company’s stock, valued at $17,002.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Edward Hill sold 28,369 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $66.57, for a total transaction of $1,888,524.33. The disclosure for this sale can be found here. Insiders have sold 90,122 shares of company stock valued at $5,770,595 over the last 90 days. 3.30% of the stock is owned by insiders.

Institutional Trading of Berry Global Group

Several hedge funds have recently made changes to their positions in BERY. Venturi Wealth Management LLC acquired a new stake in shares of Berry Global Group during the first quarter worth about $25,000. BerganKDV Wealth Management LLC purchased a new stake in shares of Berry Global Group during the fourth quarter worth approximately $26,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Berry Global Group during the first quarter worth approximately $29,000. Bartlett & Co. LLC purchased a new stake in shares of Berry Global Group during the second quarter worth approximately $32,000. Finally, Quarry LP increased its stake in shares of Berry Global Group by 150.9% during the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 92.95% of the company’s stock.

Berry Global Group Company Profile

(Get Free Report)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.