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. “
A number of other research analysts have also recently weighed in on the stock. Jefferies Group assumed coverage on shares of Berry Plastics Group in a research note on Thursday, October 13th. They issued a buy rating and a $52.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Berry Plastics Group in a research note on Tuesday, September 13th. They issued an overweight rating and a $54.00 target price on the stock. Deutsche Bank AG reiterated a buy rating and issued a $56.00 target price (up from $52.00) on shares of Berry Plastics Group in a research note on Monday, August 29th. Robert W. Baird boosted their price target on shares of Berry Plastics Group from $48.00 to $55.00 and gave the company an outperform rating in a research report on Friday, August 26th. Finally, BMO Capital Markets boosted their price target on shares of Berry Plastics Group from $37.00 to $43.00 and gave the company a market perform rating in a research report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Berry Plastics Group has an average rating of Buy and an average target price of $48.64.
Berry Plastics Group (NYSE:BERY) opened at 44.60 on Monday. The company has a market capitalization of $5.42 billion, a PE ratio of 26.67 and a beta of 1.08. Berry Plastics Group has a one year low of $27.79 and a one year high of $46.26. The stock’s 50 day moving average is $44.51 and its 200 day moving average is $40.28.
Berry Plastics Group (NYSE:BERY) last released its earnings results on Tuesday, August 9th. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.21. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The company’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. On average, analysts anticipate that Berry Plastics Group will post $2.34 earnings per share for the current fiscal year.
In other news, President Curt Begle sold 16,143 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $40.25, for a total value of $649,755.75. Following the transaction, the president now owns 45,263 shares of the company’s stock, valued at approximately $1,821,835.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in shares of Berry Plastics Group during the second quarter worth about $121,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Berry Plastics Group during the second quarter worth about $151,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Berry Plastics Group during the second quarter worth about $244,000. Westpac Banking Corp boosted its stake in shares of Berry Plastics Group by 95.4% in the second quarter. Westpac Banking Corp now owns 6,878 shares of the company’s stock worth $199,000 after buying an additional 3,358 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Berry Plastics Group during the first quarter worth about $271,000. 96.55% of the stock is owned by institutional investors.
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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