Shares of Berry Plastics Group Inc. (NYSE:BERY) have been given a consensus rating of “Buy” by the fifteen brokerages that are currently covering the firm. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $48.38.
Several equities analysts recently commented on the stock. Robert W. Baird upped their target price on shares of Berry Plastics Group from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. BMO Capital Markets upped their target price on shares of Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, August 26th. Deutsche Bank AG reiterated a “buy” rating and set a $56.00 target price (up from $52.00) on shares of Berry Plastics Group in a research note on Monday, August 29th. JPMorgan Chase & Co. assumed coverage on shares of Berry Plastics Group in a research note on Tuesday, September 13th. They set an “overweight” rating and a $54.00 target price for the company. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $47.00 target price (up from $44.00) on shares of Berry Plastics Group in a research note on Saturday, August 13th.
In related news, President Curt Begle sold 16,143 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $40.25, for a total transaction of $649,755.75. Following the completion of the sale, the president now owns 45,263 shares in the company, valued at approximately $1,821,835.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Berry Plastics Group by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,169,686 shares of the company’s stock worth $114,584,000 after buying an additional 789,332 shares in the last quarter. Nicholas Investment Partners LP raised its stake in shares of Berry Plastics Group by 16.9% in the first quarter. Nicholas Investment Partners LP now owns 163,081 shares of the company’s stock worth $5,895,000 after buying an additional 23,603 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Berry Plastics Group during the first quarter worth approximately $4,110,000. State Street Corp raised its stake in shares of Berry Plastics Group by 1.0% in the first quarter. State Street Corp now owns 2,108,862 shares of the company’s stock worth $76,241,000 after buying an additional 19,904 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in shares of Berry Plastics Group during the first quarter worth approximately $159,000. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
Berry Plastics Group (NYSE:BERY) opened at 44.25 on Tuesday. Berry Plastics Group has a 1-year low of $27.79 and a 1-year high of $46.26. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 26.47 and a beta of 1.06. The firm’s 50-day moving average is $44.48 and its 200-day moving average is $39.46.
Berry Plastics Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.21. The business earned $1.65 billion during the quarter, compared to the consensus estimate of $1.68 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. Berry Plastics Group’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Berry Plastics Group will post $2.34 EPS for the current year.
Berry Plastics Group Company Profile
Berry Plastics Group, Inc is a provider of plastic consumer packaging and engineered materials. The Company offers a range of products, including specialty closures, prescription vials, specialty films, adhesives, corrosion protection materials, as well as drink cups, thin-wall containers and bottles.
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