Truist Financial Has Lowered Expectations for Berry Global Group (NYSE:BERY) Stock Price

Berry Global Group (NYSE:BERY - Get Free Report) had its price objective decreased by stock analysts at Truist Financial from $76.00 to $71.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Truist Financial's target price points to a potential upside of 3.06% from the company's current price.

Several other equities analysts have also recently issued reports on BERY. UBS Group lifted their price target on 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 Berry Global Group in a research report on Friday, April 18th. They set a "buy" rating on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $75.13.

Berry Global Group Stock Performance

BERY traded down $0.90 during trading on Tuesday, reaching $68.89. 1,480,551 shares of the company were exchanged, compared to its average volume of 1,312,202. Berry Global Group has a 52 week low of $56.60 and a 52 week high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The firm has a 50 day moving average of $69.24 and a 200 day moving average of $68.60. The stock has a market cap of $7.98 billion, a P/E ratio of 17.18, a PEG ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its quarterly earnings results 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. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Berry Global Group will post 6.25 EPS for the current fiscal year.

Institutional Trading of Berry Global Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Greenleaf Trust increased its holdings in shares of Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after acquiring an additional 149 shares during the last quarter. Quadrant Capital Group LLC boosted its position in 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 worth $48,000 after purchasing an additional 165 shares during the period. CIBC Asset Management Inc grew its holdings in Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock valued at $229,000 after purchasing an additional 170 shares during the last quarter. KBC Group NV raised its position in shares of Berry Global Group by 4.9% in the first quarter. KBC Group NV now owns 4,365 shares of the industrial products company's stock valued at $305,000 after purchasing an additional 202 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Berry Global Group by 66.8% in the first quarter. Bessemer Group Inc. now owns 507 shares of the industrial products company's stock worth $36,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

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.