Berry Global Group (NYSE:BERY) Price Target Raised to $73.00

Berry Global Group (NYSE:BERY - Get Free Report) had its price target boosted by analysts at UBS Group from $72.00 to $73.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. UBS Group's price objective indicates a potential upside of 4.70% from the company's current price.

Other analysts have also issued research reports about the company. Barclays increased their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Royal Bank of Canada increased their price target on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research note on Thursday, November 21st. Truist Financial boosted their price target on Berry Global Group from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Citigroup reaffirmed a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, 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 report on Monday, November 25th. Eight research 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 an average rating of "Hold" and a consensus price target of $74.56.

Berry Global Group Stock Down 0.4 %

BERY stock traded down $0.29 during trading on Friday, hitting $69.72. 456,603 shares of the company's stock traded hands, compared to its average volume of 1,353,111. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.07 billion, a P/E ratio of 17.38, a PEG ratio of 1.50 and a beta of 1.15. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $73.31. The business has a fifty day simple moving average of $67.35 and a two-hundred day simple moving average of $67.36.

Berry Global Group (NYSE:BERY - Get Free Report) last released 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 net margin of 3.99% and a return on equity of 28.26%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Berry Global Group will post 6.3 EPS for the current year.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Berry Global Group during the fourth quarter valued at approximately $2,238,000. American Century Companies Inc. lifted its stake in shares of Berry Global Group by 69.2% in the 4th quarter. American Century Companies Inc. now owns 41,371 shares of the industrial products company's stock valued at $2,675,000 after purchasing an additional 16,927 shares during the last quarter. Virtu Financial LLC purchased a new position in Berry Global Group during the fourth quarter worth about $1,922,000. Magnetar Financial LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth approximately $71,882,000. Finally, Decagon Asset Management LLP purchased a new position in shares of Berry Global Group during the fourth quarter worth $8,926,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.