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

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

A number of other research firms have also issued reports 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 initiated coverage on shares of Berry Global Group in a research note on Friday. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.13.

Berry Global Group Trading Up 2.8 %

BERY traded up $1.86 on Tuesday, hitting $68.89. The company had a trading volume of 328,558 shares, compared to its average volume of 1,296,207. 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 firm has a market cap of $7.98 billion, a P/E ratio of 17.18, a PEG ratio of 1.54 and a beta of 1.14. The company’s fifty day moving average price is $69.36 and its 200 day moving average price is $68.54. Berry Global Group has a 1 year low of $55.68 and a 1 year high of $74.24.

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

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after buying an additional 6,833 shares during the last quarter. Khrom Capital Management LLC grew its stake in shares of Berry Global Group by 14.8% during the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock worth $105,413,000 after purchasing an additional 210,046 shares during the period. Balyasny Asset Management L.P. acquired a new position in Berry Global Group during the fourth quarter worth about $105,092,000. Norges Bank purchased a new stake in shares of Berry Global Group during the 4th quarter worth approximately $91,526,000. Finally, Magnetar Financial LLC acquired a new position in Berry Global Group during the fourth quarter worth $71,882,000. 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.