BPC Acquisition Corp (BERY) Upgraded by Zacks Investment Research to “Buy”
BPC Acquisition Corp (NYSE:BERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $64.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.54% from the stock’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. “
Other equities analysts have also recently issued research reports about the company. Citigroup Inc. reissued a “buy” rating on shares of BPC Acquisition Corp in a research 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 raised their target price for the company from $51.00 to $65.00 in a report on Monday, June 26th. UBS AG began coverage on BPC Acquisition Corp in a research report on Tuesday, July 25th. They issued a “buy” rating and a $67.00 price target on the stock. Finally, KeyCorp reaffirmed a “hold” rating on shares of BPC Acquisition Corp in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $64.08.
BPC Acquisition Corp (NYSE BERY) traded up 0.85% during mid-day trading on Tuesday, reaching $57.90. 895,564 shares of the company traded hands. BPC Acquisition Corp has a 52-week low of $42.74 and a 52-week high of $58.95. The company has a market capitalization of $7.55 billion, a P/E ratio of 24.59 and a beta of 1.08. The stock has a 50 day moving average price of $56.63 and a 200-day moving average price of $55.18.
BPC Acquisition Corp (NYSE:BERY) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.10. The company had revenue of $1.91 billion during 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 business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Analysts expect that BPC Acquisition Corp will post $3.03 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in BPC Acquisition Corp by 20,404.9% in the first quarter. BlackRock Inc. now owns 5,099,577 shares of the industrial products company’s stock worth $247,685,000 after purchasing an additional 5,074,707 shares during the period. Canyon Capital Advisors LLC boosted its stake in BPC Acquisition Corp by 57.9% during the first quarter. Canyon Capital Advisors LLC now owns 4,957,700 shares of the industrial products company’s stock worth $240,795,000 after buying an additional 1,817,805 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in BPC Acquisition Corp during the first quarter worth $61,097,000. Marshall Wace North America L.P. acquired a new stake in BPC Acquisition Corp during the first quarter worth $61,097,000. Finally, Vanguard Group Inc. increased its holdings in BPC Acquisition Corp by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 10,135,557 shares of the industrial products company’s stock valued at $492,284,000 after buying an additional 1,089,650 shares during the period. Institutional investors and hedge funds own 94.64% of the company’s stock.
About BPC Acquisition Corp
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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