Research analysts at Credit Suisse Group initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $62.00 price target on the industrial products company’s stock. Credit Suisse Group’s price target indicates a potential upside of 47.83% from the stock’s previous close.
A number of other analysts have also issued reports on BERY. ValuEngine raised Berry Global Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Royal Bank of Canada reissued a “buy” rating and issued a $56.00 target price on shares of Berry Global Group in a research report on Monday, January 20th. Barclays initiated coverage on Berry Global Group in a research report on Thursday, January 16th. They issued an “equal weight” rating and a $50.00 target price on the stock. Morgan Stanley reissued a “hold” rating and issued a $51.00 target price (up previously from $49.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.91.
Shares of NYSE BERY opened at $41.94 on Thursday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.82 and a beta of 1.36. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 6.24. Berry Global Group has a 52-week low of $36.98 and a 52-week high of $59.16. The business’s 50 day moving average is $45.41 and its two-hundred day moving average is $42.92.
Institutional investors have recently bought and sold shares of the company. Usca Ria LLC purchased a new position in Berry Global Group in the third quarter valued at $51,000. FTB Advisors Inc. increased its holdings in Berry Global Group by 55.9% in the third quarter. FTB Advisors Inc. now owns 1,386 shares of the industrial products company’s stock valued at $53,000 after buying an additional 497 shares during the last quarter. Heritage Wealth Advisors increased its holdings in Berry Global Group by 33.0% in the fourth quarter. Heritage Wealth Advisors now owns 1,197 shares of the industrial products company’s stock valued at $57,000 after buying an additional 297 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Berry Global Group by 131.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,684 shares of the industrial products company’s stock valued at $80,000 after buying an additional 957 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Berry Global Group in the fourth quarter valued at $103,000. 95.59% 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. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.
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