Berry Plastics Group Inc. (NYSE:BERY)’s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $49.31 and last traded at $49.43, with a volume of 4,631,110 shares. The stock had previously closed at $45.94.

The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.14. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Berry Plastics Group had a return on equity of 1,464.14% and a net margin of 3.41%. The business’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share.

Several brokerages have recently issued reports on BERY. KeyCorp began coverage on Berry Plastics Group in a report on Wednesday. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. lifted their target price on Berry Plastics Group from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Group lifted their target price on Berry Plastics Group from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada lifted their target price on Berry Plastics Group from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Credit Suisse Group AG set a $60.00 target price on Berry Plastics Group and gave the stock a “buy” rating in a report on Friday, November 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.54.

Several hedge funds have recently made changes to their positions in BERY. Wells Fargo & Company MN raised its stake in shares of Berry Plastics Group by 616.4% in the third quarter. Wells Fargo & Company MN now owns 3,164,361 shares of the company’s stock worth $138,759,000 after buying an additional 2,722,667 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Berry Plastics Group by 632.4% in the third quarter. Bank of Montreal Can now owns 2,043,971 shares of the company’s stock worth $89,628,000 after buying an additional 1,764,902 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Berry Plastics Group by 17,005.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,716,388 shares of the company’s stock worth $75,263,000 after buying an additional 1,706,354 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Berry Plastics Group by 100.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,764,447 shares of the company’s stock worth $107,399,000 after buying an additional 1,385,228 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Berry Plastics Group by 20.8% in the second quarter. Boston Partners now owns 7,068,663 shares of the company’s stock worth $274,617,000 after buying an additional 1,218,267 shares during the last quarter.

The stock has a market capitalization of $6.05 billion, a PE ratio of 29.77 and a beta of 1.07. The stock’s 50 day moving average price is $44.99 and its 200 day moving average price is $42.25.

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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.

5 Day Chart for NYSE:BERY

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