Berry Plastics Group Inc. (BERY) Stock Rating Lowered by Zacks Investment Research
Berry Plastics Group Inc. (NYSE:BERY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
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 research firms have also issued reports on BERY. Robert W. Baird raised their price target on Berry Plastics Group from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th. BMO Capital Markets lifted their target price on Berry Plastics Group from $37.00 to $43.00 and gave the stock a “market perform” rating in a report 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 report on Monday, August 29th. Jefferies Group started coverage on Berry Plastics Group in a report on Thursday. They set a “buy” rating and a $52.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Berry Plastics Group in a report on Tuesday, September 13th. They set an “overweight” rating and a $54.00 target price on the stock. One investment 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. The stock has an average rating of “Buy” and a consensus price target of $48.64.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/berry-plastics-group-inc-bery-stock-rating-lowered-by-zacks-investment-research.html
Berry Plastics Group (NYSE:BERY) traded up 0.22% during mid-day trading on Monday, hitting $44.60. The stock had a trading volume of 908,130 shares. The stock’s 50-day moving average is $44.51 and its 200 day moving average is $40.16. The company has a market capitalization of $5.42 billion, a P/E ratio of 26.67 and a beta of 1.08. Berry Plastics Group has a 52 week low of $27.79 and a 52 week high of $46.26.
Berry Plastics Group (NYSE:BERY) last posted its quarterly earnings results 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. Berry Plastics Group had a return on equity of 1,464.14% and a net margin of 3.41%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was up 32.6% on a year-over-year basis. Equities analysts forecast 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 Berry Plastics Group stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $44.00, for a total value of $208,296.00. Following the sale, the president now owns 33,854 shares of the company’s stock, valued at $1,489,576. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new position in Berry Plastics Group during the first quarter worth approximately $271,000. Nuveen Asset Management LLC boosted its position in Berry Plastics Group by 50.2% in the first quarter. Nuveen Asset Management LLC now owns 102,876 shares of the company’s stock worth $3,719,000 after buying an additional 34,405 shares during the last quarter. 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. Hancock Holding Co. boosted its position in Berry Plastics Group by 11.7% in the first quarter. Hancock Holding Co. now owns 24,105 shares of the company’s stock worth $871,000 after buying an additional 2,534 shares during the last quarter. Finally, Newbrook Capital Advisors LP acquired a new position in Berry Plastics Group during the first quarter worth approximately $76,125,000. Institutional investors and hedge funds own 96.55% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Berry Plastics Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Plastics Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.