Citigroup Inc. Reaffirms Buy Rating for BPC Acquisition Corp (BERY)
Citigroup Inc. reaffirmed their buy rating on shares of BPC Acquisition Corp (NYSE:BERY) in a research report released on Thursday. Citigroup Inc. currently has a $68.00 price objective on the industrial products company’s stock, down from their prior price objective of $69.00.
Several other analysts also recently commented on the company. Barclays PLC increased their price objective on BPC Acquisition Corp from $65.00 to $71.00 and gave the stock an overweight rating in a research note on Monday, August 7th. ValuEngine downgraded BPC Acquisition Corp from a buy rating to a hold rating in a research note on Wednesday. Credit Suisse Group increased their price objective on BPC Acquisition Corp from $62.00 to $67.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Royal Bank Of Canada reissued a buy rating and issued a $63.00 price objective on shares of BPC Acquisition Corp in a research note on Wednesday, July 12th. Finally, Robert W. Baird reissued a buy rating and issued a $65.00 price objective on shares of BPC Acquisition Corp in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $64.17.
BPC Acquisition Corp (NYSE BERY) opened at 56.31 on Thursday. The company’s 50 day moving average price is $56.94 and its 200-day moving average price is $54.38. The company has a market capitalization of $7.34 billion, a P/E ratio of 23.91 and a beta of 1.09. BPC Acquisition Corp has a 12-month low of $42.46 and a 12-month high of $58.95.
BPC Acquisition Corp (NYSE:BERY) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. BPC Acquisition Corp had a return on equity of 76.66% and a net margin of 4.49%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts forecast that BPC Acquisition Corp will post $3.03 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in BERY. Acrospire Investment Management LLC grew its holdings in shares of BPC Acquisition Corp by 315.6% in the second quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,600 shares in the last quarter. First Quadrant L P CA bought a new position in shares of BPC Acquisition Corp in the first quarter valued at approximately $144,000. Public Employees Retirement Association of Colorado grew its holdings in shares of BPC Acquisition Corp by 2.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 3,992 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 111 shares in the last quarter. CrestPoint Capital Management LLC bought a new position in shares of BPC Acquisition Corp in the second quarter valued at approximately $205,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of BPC Acquisition Corp in the first quarter valued at approximately $218,000. 94.62% of the stock is 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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