According to Zacks, “Berry Plastics Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company operates in three segments: Rigid Packaging, Engineered Materials and Flexible Packaging. Its rigid packaging products include containers, thermoformed polypropylene and injection-molded plastic drink cups, plastic home and party items, plastic garden products, closures, aerosol overcaps, polyethylene and PET bottles and plastic squeeze tubes for food and beverage, retail mass, healthcare, personal care, and household chemical consumer-oriented end markets. Berry’s flexible packaging products comprises of mono layer and coextruded films; barrier films for cereal, cookie, cracker, and dry mix packages; lamination films for carpet padding; films used for solar panel construction; component and packaging films; printed products; and coated and laminated packaging products. Berry Plastics Group, Inc. is headquartered in Evansville, Indiana. “
Several other equities analysts also recently weighed in on the stock. Deutsche Bank AG reiterated a buy rating and issued a $56.00 price target (up previously from $52.00) on shares of Berry Plastics Group in a report on Monday, August 29th. Credit Suisse Group AG raised their price objective on shares of Berry Plastics Group from $48.00 to $52.00 and gave the stock an outperform rating in a research note on Friday, August 12th. Robert W. Baird raised their price objective on shares of Berry Plastics Group from $48.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, August 26th. BMO Capital Markets raised their price objective on shares of Berry Plastics Group from $37.00 to $43.00 and gave the stock a market perform rating in a research note on Friday, August 26th. Finally, SunTrust Banks Inc. started coverage on shares of Berry Plastics Group in a research note on Tuesday, July 12th. They set a neutral rating and a $42.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $48.38.
Berry Plastics Group (NYSE:BERY) opened at 43.22 on Tuesday. The stock’s 50 day moving average is $44.52 and its 200-day moving average is $40.04. Berry Plastics Group has a one year low of $27.79 and a one year high of $46.26. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 25.85 and a beta of 1.08.
Berry Plastics Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.21. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.51 EPS. Berry Plastics Group’s quarterly revenue was up 32.6% on a year-over-year basis. On average, equities research analysts expect that Berry Plastics Group will post $2.34 earnings per share for the current fiscal year.
In related news, President Curt Begle sold 4,734 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $208,296.00. Following the completion of the sale, the president now directly owns 33,854 shares of the company’s stock, valued at approximately $1,489,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Berry Plastics Group during the first quarter worth about $315,000. Ngam Advisors L.P. purchased a new position in Berry Plastics Group during the first quarter valued at $1,446,000. Prudential Financial Inc. increased its position in Berry Plastics Group by 120.7% in the first quarter. Prudential Financial Inc. now owns 18,537 shares of the company’s stock valued at $670,000 after buying an additional 10,137 shares in the last quarter. JPMorgan Chase & Co. increased its position in Berry Plastics Group by 519.2% in the first quarter. JPMorgan Chase & Co. now owns 394,297 shares of the company’s stock valued at $14,254,000 after buying an additional 330,615 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in Berry Plastics Group during the first quarter valued at $159,000. 96.50% of the stock is owned by hedge funds and other institutional investors.
About Berry Plastics Group
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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