JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “overweight” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a research report issued on Monday,Benzinga reports. They currently have a $76.00 price objective on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.98% from the company’s current price.

Several other analysts also recently weighed in on BERY. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday. UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $75.00 in a research report on Friday. Royal Bank of Canada raised their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Truist Financial reissued a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.73.

Berry Global Group Stock Up 1.1 %

Berry Global Group stock opened at $71.71 on Monday. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $72.50. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.26 and a current ratio of 0.41. The firm has a 50 day moving average price of $68.22 and a 200 day moving average price of $64.44. The company has a market capitalization of $8.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was 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 at this hyperlink. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. Quadrature Capital Ltd increased its stake in Berry Global Group by 11.8% in the first quarter. Quadrature Capital Ltd now owns 8,285 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 872 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Berry Global Group by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 89,114 shares of the industrial products company’s stock valued at $5,390,000 after purchasing an additional 5,731 shares during the period. SVB Wealth LLC acquired a new position in Berry Global Group in the first quarter valued at $288,000. Tidal Investments LLC increased its stake in Berry Global Group by 9.5% in the first quarter. Tidal Investments LLC now owns 15,890 shares of the industrial products company’s stock valued at $961,000 after purchasing an additional 1,372 shares during the period. Finally, Comerica Bank increased its stake in Berry Global Group by 3.4% in the first quarter. Comerica Bank now owns 91,867 shares of the industrial products company’s stock valued at $5,556,000 after purchasing an additional 3,055 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.