Equities researchers at Jefferies Group initiated coverage on shares of Berry Plastics Group Inc. (NYSE:BERY) in a research report issued on Thursday. The brokerage set a “buy” rating and a $52.00 price target on the stock. Jefferies Group’s price objective suggests a potential upside of 16.85% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Berry Plastics Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 11th. JPMorgan Chase & Co. started coverage on shares of Berry Plastics Group in a research report on Tuesday, September 13th. They set an “overweight” rating and a $54.00 price target for the company. Deutsche Bank AG reissued a “buy” rating and set a $56.00 price target (up previously from $52.00) on shares of Berry Plastics Group in a research report on Monday, August 29th. Robert W. Baird increased their price target on shares of Berry Plastics Group from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Finally, BMO Capital Markets increased their price target on shares of Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, August 26th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Berry Plastics Group currently has an average rating of “Buy” and a consensus target price of $48.64.
Berry Plastics Group (NYSE:BERY) opened at 44.50 on Thursday. The stock’s 50 day moving average is $44.51 and its 200-day moving average is $40.16. The firm has a market capitalization of $5.41 billion, a PE ratio of 26.61 and a beta of 1.08. Berry Plastics Group has a one year low of $27.79 and a one year high of $46.26.
Berry Plastics Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.21. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The company earned $1.65 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 32.6% on a year-over-year basis. On average, analysts anticipate that Berry Plastics Group will post $2.34 EPS for the current fiscal year.
In related news, President Curt Begle sold 16,143 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $40.25, for a total value of $649,755.75. Following the completion of the transaction, the president now directly owns 45,263 shares in the company, valued at approximately $1,821,835.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in shares of Berry Plastics Group during the second quarter valued at about $121,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Berry Plastics Group during the second quarter valued at about $151,000. Acrospire Investment Management LLC acquired a new position in shares of Berry Plastics Group during the first quarter valued at about $159,000. 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 valued at $199,000 after buying an additional 3,358 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Berry Plastics Group during the second quarter valued at about $244,000. Institutional investors own 96.55% of the company’s stock.
About Berry Plastics Group