Truist Financial Issues Positive Forecast for Berry Global Group (NYSE:BERY) Stock Price

Berry Global Group (NYSE:BERY - Get Free Report) had its target price boosted by research analysts at Truist Financial from $72.00 to $74.00 in a research note issued to investors on Monday,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 13.51% from the stock's current price.

A number of other equities analysts have also commented on the stock. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Saturday. They issued a "buy" rating for the company. Citigroup reaffirmed a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group cut Berry Global Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays upped 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. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group has an average rating of "Hold" and an average target price of $73.60.

Berry Global Group Stock Performance

Shares of NYSE:BERY traded up $0.84 during trading on Monday, hitting $65.19. 1,362,950 shares of the company were exchanged, compared to its average volume of 1,233,083. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The stock has a 50 day moving average of $67.91 and a 200 day moving average of $66.12. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The company has a market cap of $7.51 billion, a PE ratio of 14.85, a P/E/G ratio of 1.38 and a beta of 1.16.

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock worth $134,806,000 after buying an additional 27,437 shares in the last quarter. Hancock Whitney Corp bought a new position in shares of Berry Global Group in the 3rd quarter worth approximately $1,065,000. Integrated Investment Consultants LLC purchased a new position in shares of Berry Global Group in the 3rd quarter valued at approximately $714,000. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company's stock valued at $56,786,000 after purchasing an additional 37,242 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in Berry Global Group by 370.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company's stock worth $6,760,000 after purchasing an additional 90,428 shares during the period. 95.36% of the stock is currently owned by institutional investors.

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.