Berry Plastics Group Inc. (BERY) Downgraded by Zacks Investment Research to Hold
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 brokerages have also recently issued reports on BERY. Robert W. Baird lifted their price target on Berry Plastics Group from $48.00 to $55.00 and gave the company an outperform rating in a research report on Friday, August 26th. Deutsche Bank AG restated a buy rating on shares of Berry Plastics Group in a report on Wednesday, June 15th. Citigroup Inc. lifted their target price on Berry Plastics Group from $45.00 to $47.00 and gave the stock a buy rating in a report on Tuesday, July 19th. RBC Capital Markets restated an outperform rating and issued a $47.00 target price (up from $44.00) on shares of Berry Plastics Group in a report on Saturday, August 13th. Finally, Royal Bank Of Canada lifted their target price on Berry Plastics Group from $44.00 to $47.00 and gave the stock an outperform rating in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Berry Plastics Group currently has an average rating of Buy and an average target price of $48.38.
Shares of Berry Plastics Group (NYSE:BERY) opened at 43.22 on Tuesday. The company’s 50-day moving average price is $44.52 and its 200 day moving average price is $40.04. Berry Plastics Group has a 1-year low of $27.79 and a 1-year high of $46.26. The stock has a market cap of $5.26 billion, a PE 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 (EPS) for the quarter, beating the 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 company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities analysts forecast that Berry Plastics Group will post $2.34 EPS for the current fiscal year.
In other Berry Plastics Group news, President Curt Begle sold 4,734 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction 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 legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of Berry Plastics Group during the second quarter worth approximately $121,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Berry Plastics Group during the second quarter worth approximately $151,000. Acrospire Investment Management LLC acquired a new position in shares of Berry Plastics Group during the first quarter worth approximately $159,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Berry Plastics Group during the second quarter worth approximately $244,000. Finally, Westpac Banking Corp raised its position 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. 96.50% of the stock is currently 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.