Berry Global Group (NYSE:BERY) Given New $72.00 Price Target at UBS Group

Berry Global Group (NYSE:BERY) had its price target dropped by UBS Group from $75.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price would suggest a potential upside of 9.59% from the company’s current price.

Other research analysts also recently issued research reports about the company. StockNews.com assumed coverage on Berry Global Group in a research note on Saturday, January 4th. They set a “buy” rating for the company. Barclays boosted their target price 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average price target of $73.30.

Berry Global Group Trading Down 0.8 %

BERY traded down $0.55 during trading on Friday, hitting $65.70. The company’s stock had a trading volume of 623,318 shares, compared to its average volume of 1,112,351. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock’s fifty day moving average price is $67.67 and its 200-day moving average price is $66.16. The firm has a market capitalization of $7.57 billion, a P/E ratio of 14.97, a PEG ratio of 1.38 and a beta of 1.16.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its holdings in Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the second quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Berry Global Group in the third quarter worth approximately $75,000. Finally, GAMMA Investing LLC increased its position in shares of Berry Global Group by 332.6% during the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 908 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

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.