BPC Acquisition Corp (BERY) Stock Rating Upgraded by Zacks Investment Research
BPC Acquisition Corp (NYSE:BERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $64.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.54% from the company’s previous close.
According to Zacks, “Berry Global Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company’s products include engineered materials, non-woven specialty materials and consumer packaging. Berry Global Group, Inc., formerly known as Berry Plastics Group, Inc., is headquartered in Evansville, Indiana. “
A number of other equities analysts have also recently commented on BERY. Citigroup Inc. reaffirmed a “buy” rating on shares of BPC Acquisition Corp in a report on Thursday, August 31st. BidaskClub lowered BPC Acquisition Corp from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 20th. SunTrust Banks, Inc. raised BPC Acquisition Corp from a “hold” rating to a “buy” rating and boosted their price target for the company from $51.00 to $65.00 in a report on Monday, June 26th. UBS AG initiated coverage on BPC Acquisition Corp in a report on Tuesday, July 25th. They set a “buy” rating and a $67.00 price target for the company. Finally, KeyCorp restated a “hold” rating on shares of BPC Acquisition Corp in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $64.08.
Shares of BPC Acquisition Corp (NYSE:BERY) traded up 0.85% during trading on Tuesday, hitting $57.90. The stock had a trading volume of 895,564 shares. BPC Acquisition Corp has a 1-year low of $42.74 and a 1-year high of $58.95. The firm has a market capitalization of $7.55 billion, a P/E ratio of 24.59 and a beta of 1.08. The stock’s 50-day moving average price is $56.63 and its 200 day moving average price is $55.18.
BPC Acquisition Corp (NYSE:BERY) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.10. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.94 billion. BPC Acquisition Corp had a net margin of 4.49% and a return on equity of 76.66%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. On average, analysts anticipate that BPC Acquisition Corp will post $3.03 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its stake in BPC Acquisition Corp by 315.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,600 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in BPC Acquisition Corp by 2.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 3,992 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 111 shares during the period. CrestPoint Capital Management LLC bought a new position in BPC Acquisition Corp in the 2nd quarter worth approximately $205,000. BlueCrest Capital Management Ltd bought a new position in BPC Acquisition Corp in the 1st quarter worth approximately $218,000. Finally, Tocqueville Asset Management L.P. bought a new position in BPC Acquisition Corp in the 2nd quarter worth approximately $228,000. 94.64% of the stock is currently owned by institutional investors.
BPC Acquisition Corp Company Profile
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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