Shares of Berry Plastics Group Inc. (NYSE:BERY) have earned a consensus recommendation of “Buy” from the fifteen analysts that are covering the company. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.38.
A number of equities analysts have weighed in on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $50.00 price target on shares of Berry Plastics Group in a report on Wednesday, June 1st. Barclays PLC assumed coverage on shares of Berry Plastics Group in a report on Wednesday, June 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Berry Plastics Group from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. Deutsche Bank AG reiterated a “buy” rating on shares of Berry Plastics Group in a report on Wednesday, June 15th. Finally, Citigroup Inc. lifted their target price on shares of Berry Plastics Group from $45.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, July 19th.
Berry Plastics Group (NYSE:BERY) traded up 0.90% during trading on Tuesday, reaching $45.91. The company had a trading volume of 1,559,621 shares. Berry Plastics Group has a 52-week low of $27.79 and a 52-week high of $46.26. The company has a market capitalization of $5.58 billion, a PE ratio of 27.46 and a beta of 1.06. The stock has a 50 day moving average price of $44.19 and a 200-day moving average price of $39.28.
Berry Plastics Group (NYSE:BERY) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.21. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. Berry Plastics Group’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, equities research analysts anticipate that Berry Plastics Group will post $2.34 earnings per share for the current fiscal year.
In other news, President Curt Begle sold 4,734 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $208,296.00. Following the completion of the sale, the president now owns 33,854 shares of the company’s stock, valued at approximately $1,489,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Newbrook Capital Advisors LP bought a new stake in Berry Plastics Group during the first quarter valued at $76,125,000. TIAA CREF Investment Management LLC increased its stake in Berry Plastics Group by 28.5% in the first quarter. TIAA CREF Investment Management LLC now owns 7,817,838 shares of the company’s stock valued at $282,615,000 after buying an additional 1,731,853 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 valued at $107,399,000 after buying an additional 1,385,228 shares during the last quarter. Boston Partners increased its stake in Berry Plastics Group by 20.8% in the second quarter. Boston Partners now owns 7,068,663 shares of the company’s stock valued at $274,617,000 after buying an additional 1,218,267 shares during the last quarter. Finally, Norges Bank bought a new stake in Berry Plastics Group during the fourth quarter valued at $37,812,000. 96.50% of the stock is owned by 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.
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