Berry Plastics Group Inc. (BERY) Announces Earnings Results
Berry Plastics Group Inc. (NYSE:BERY) posted its quarterly earnings results on Tuesday. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.59 by $0.14. The firm earned $1.62 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Berry Plastics Group had a return on equity of 1,464.14% and a net margin of 3.41%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS.
Berry Plastics Group (NYSE:BERY) opened at 49.94 on Wednesday. The firm’s 50-day moving average price is $44.81 and its 200 day moving average price is $42.17. The firm has a market cap of $6.07 billion, a P/E ratio of 29.87 and a beta of 1.07. Berry Plastics Group has a 12-month low of $27.79 and a 12-month high of $50.26.
Large investors have recently modified their holdings of the company. Advisor Group Inc. increased its stake in shares of Berry Plastics Group by 14.0% in the third quarter. Advisor Group Inc. now owns 2,434 shares of the company’s stock valued at $107,000 after buying an additional 299 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Berry Plastics Group during the second quarter valued at about $121,000. Meeder Asset Management Inc. bought a new stake in shares of Berry Plastics Group during the third quarter valued at about $147,000. The Manufacturers Life Insurance Company bought a new stake in shares of Berry Plastics Group during the third quarter valued at about $149,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Berry Plastics Group during the second quarter valued at about $151,000.
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Several equities analysts have commented on BERY shares. Zacks Investment Research cut Berry Plastics Group from a “hold” rating to a “sell” rating in a report on Monday, October 17th. Credit Suisse Group AG set a $60.00 price target on Berry Plastics Group and gave the company a “buy” rating in a report on Friday, November 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $56.00 price target (up previously from $52.00) on shares of Berry Plastics Group in a report on Monday, August 29th. Jefferies Group started coverage on Berry Plastics Group in a report on Thursday, October 13th. They issued a “buy” rating and a $52.00 price target for the company. Finally, BMO Capital Markets upped their price target on Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Berry Plastics Group presently has a consensus rating of “Buy” and an average price target of $49.69.
Berry Plastics Group Company Profile
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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