Berry Plastics Group Inc. (BERY) Now Covered by Jefferies Group
Research analysts at Jefferies Group initiated coverage on shares of Berry Plastics Group Inc. (NYSE:BERY) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the stock.
A number of other brokerages also recently weighed in on BERY. Robert W. Baird lifted their target price 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 lifted their target price 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. Deutsche Bank AG reissued a “buy” rating and set a $56.00 target price (up previously from $52.00) on shares of Berry Plastics Group in a research note on Monday, August 29th. JPMorgan Chase & Co. initiated 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, Zacks Investment Research downgraded shares of Berry Plastics Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $48.38.
Berry Plastics Group (NYSE:BERY) opened at 44.12 on Thursday. 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 $5.36 billion, a P/E ratio of 26.39 and a beta of 1.08. The stock’s 50 day moving average is $44.52 and its 200-day moving average is $40.07.
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Berry Plastics Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.21. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates 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 revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Analysts forecast that Berry Plastics Group will post $2.34 EPS for the current year.
In other news, President Curt Begle sold 4,734 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were 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 $1,489,576. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Falcon Point Capital LLC boosted its position in Berry Plastics Group by 1.9% in the second quarter. Falcon Point Capital LLC now owns 294,216 shares of the company’s stock valued at $11,430,000 after buying an additional 5,382 shares during the period. HBK Investments L P boosted its position in Berry Plastics Group by 7.3% in the first quarter. HBK Investments L P now owns 140,618 shares of the company’s stock worth $5,083,000 after buying an additional 9,601 shares during the last quarter. Mount Lucas Management LP boosted its position in Berry Plastics Group by 10.3% in the first quarter. Mount Lucas Management LP now owns 8,464 shares of the company’s stock worth $306,000 after buying an additional 791 shares during the last quarter. A.R.T. Advisors LLC boosted its position in Berry Plastics Group by 27.9% in the first quarter. A.R.T. Advisors LLC now owns 36,678 shares of the company’s stock worth $1,325,000 after buying an additional 8,000 shares during the last quarter. Finally, Skyline Asset Management LP boosted its position in Berry Plastics Group by 4.0% in the first quarter. Skyline Asset Management LP now owns 862,700 shares of the company’s stock worth $31,187,000 after buying an additional 33,400 shares during the last quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.
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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