The stock of Berry Plastics Group Inc (NYSE:BERY) hit a new 52-week high and has $49.10 target or 6.00% above today’s $46.32 share price. The 5 months bullish chart indicates low risk for the $5.66B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $49.10 price target is reached, the company will be worth $339.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 400,701 shares traded hands. Berry Plastics Group Inc (NYSE:BERY) has risen 31.75% since April 21, 2016 and is uptrending. It has outperformed by 26.42% the S&P500.
Analysts await Berry Plastics Group Inc (NYSE:BERY) to report earnings on November, 29 before the open. They expect $0.59 EPS, up 18.00% or $0.09 from last year’s $0.5 per share. BERY’s profit will be $72.09 million for 19.63 P/E if the $0.59 EPS becomes a reality. After $0.82 actual EPS reported by Berry Plastics Group Inc for the previous quarter, Wall Street now forecasts -28.05% negative EPS growth.
Berry Plastics Group Inc (NYSE:BERY) Ratings Coverage
Out of 13 analysts covering Berry Plastics Group Inc (NYSE:BERY), 11 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 85% are positive. Berry Plastics Group Inc has been the topic of 18 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Berry Plastics Group Inc (NYSE:BERY) on Wednesday, November 18 with “Buy” rating. The rating was maintained by Robert W. Baird on Friday, August 26 with “Outperform”. The stock of Berry Plastics Group Inc (NYSE:BERY) has “Neutral” rating given on Wednesday, July 13 by SunTrust. As per Wednesday, September 2, the company rating was reinitiated by Citigroup. Citigroup maintained Berry Plastics Group Inc (NYSE:BERY) on Tuesday, July 19 with “Buy” rating. The firm has “Buy” rating given on Thursday, May 12 by Goldman Sachs. The firm earned “Market Perform” rating on Friday, August 26 by BMO Capital Markets. The firm has “Outperform” rating given on Thursday, August 11 by RBC Capital Markets. On Monday, August 3 the stock rating was downgraded by Goldman Sachs to “Neutral”. The firm has “Outperform” rating by Credit Suisse given on Friday, August 12.
According to Zacks Investment Research, “Berry Plastics Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company operates in three segments: Rigid Packaging, Engineered Materials and Flexible Packaging. Its rigid packaging products include containers, thermoformed polypropylene and injection-molded plastic drink cups, plastic home and party items, plastic garden products, closures, aerosol overcaps, polyethylene and PET bottles and plastic squeeze tubes for food and beverage, retail mass, healthcare, personal care, and household chemical consumer-oriented end markets. Berry’s flexible packaging products comprises of mono layer and coextruded films; barrier films for cereal, cookie, cracker, and dry mix packages; lamination films for carpet padding; films used for solar panel construction; component and packaging films; printed products; and coated and laminated packaging products. Berry Plastics Group, Inc. is headquartered in Evansville, Indiana.”
Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.05, from 1.18 in 2016Q1. The ratio is positive, as 23 funds sold all Berry Plastics Group Inc shares owned while 91 reduced positions. 56 funds bought stakes while 79 increased positions. They now own 112.23 million shares or 5.59% less from 118.88 million shares in 2016Q1.
The Minnesota-based Us Bancorp De has invested 0% in Berry Plastics Group Inc (NYSE:BERY). Price T Rowe Assoc Md accumulated 0.01% or 869,423 shares. Susquehanna Group Llp has invested 0% of its portfolio in Berry Plastics Group Inc (NYSE:BERY). The New York-based Goldman Sachs Grp Inc has invested 0.03% in Berry Plastics Group Inc (NYSE:BERY). Brenner West Cap Advisors has 9.61% invested in the company for 2.84 million shares. Blackrock Advsrs Limited Liability has 0.01% invested in the company for 342,852 shares. Metropolitan Life Ins New York owns 9,091 shares or 0% of their US portfolio. Nomura Asset Limited, a Japan-based fund reported 2,030 shares. Carlson Cap Lp owns 130,000 shares or 0.06% of their US portfolio. Amalgamated Savings Bank accumulated 0.05% or 19,305 shares. Parametric Portfolio Assocs Ltd Liability holds 0.02% of its portfolio in Berry Plastics Group Inc (NYSE:BERY) for 395,156 shares. Hood River Capital Mgmt Ltd Llc has 153,294 shares for 0.8% of their US portfolio. Omega Advsrs Inc last reported 295,000 shares in the company. Dorsey Whitney Trust Communication last reported 0.06% of its portfolio in the stock. Avalon Advsr Limited Liability Co accumulated 0.07% or 46,112 shares.
More recent Berry Plastics Group Inc (NYSE:BERY) news were published by: Businesswire.com which released: “Berry Plastics Group, Inc. to Report Fourth Quarter and Fiscal Year 2016 …” on November 14, 2016. Also Moodys.com published the news titled: “Moody’s places Berry Plastics Group, Inc.’s ratings under review for downgrade” on August 25, 2016. Plasticsnews.com‘s news article titled: “Berry Plastics buying AEP for $765 million” with publication date: August 25, 2016 was also an interesting one.
BERY Company Profile
Berry Plastics Group, Inc., incorporated on November 18, 2005, is a well-known provider of plastic consumer packaging and engineered materials. The Firm 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. The Firm has three divisions: Health, Hygiene and Specialties; Consumer Packaging, and Engineered Materials. The Firm sells its products to end markets, such as healthcare, personal care, and food and beverage. The Company’s Health, Hygiene and Specialties segment includes the personal care films and international business. The Company’s Consumer Packaging segment consists of the food and consumer films business, and the custom shrink films business. The Company’s Engineered Material segment includes the converter films business. The Firm has manufacturing and distribution centers in the United States, Canada, Mexico, Belgium, France, Australia, Germany, Brazil, Malaysia, India, China and the Netherlands.
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