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

Berry Global Group (NYSE:BERY - Get Free Report) had its price objective reduced by analysts at Truist Financial from $76.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Truist Financial's price objective would suggest a potential upside of 3.07% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. UBS Group increased their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. StockNews.com began coverage on shares of Berry Global Group in a research note on Friday, April 18th. They issued a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $75.13.

Berry Global Group Stock Performance

NYSE BERY traded down $0.91 on Tuesday, hitting $68.89. The stock had a trading volume of 152,341 shares, compared to its average volume of 1,300,235. The company's 50-day moving average is $69.29 and its two-hundred day moving average is $68.57. Berry Global Group has a one year low of $56.19 and a one year high of $74.24. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 EPS. On average, 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

A number of hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in shares of Berry Global Group by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 507 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 203 shares during the period. UMB Bank n.a. boosted its holdings in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after buying an additional 306 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 165 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 821 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock worth $69,000 after purchasing an additional 876 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.