Berry Plastics Group Inc (BERY) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 60

Berry Plastics Group Inc (BERY) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $54 . RBC Capital Mkts advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Berry Plastics Group Inc. Jefferies Initiated Berry Plastics Group Inc on Oct 13, 2016 to “Buy”, Price Target of the shares are set at $52.JP Morgan Initiated Berry Plastics Group Inc on Sep 13, 2016 to “Overweight”, Price Target of the shares are set at $54.

On the company’s financial health, Berry Plastics Group Inc reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 29, 2016. Analyst had a consensus of $0.59. The company had revenue of $1618.00 million for the quarter, compared to analysts expectations of $1616.30 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Berry Plastics Group Inc opened for trading at $47.44 and hit $50.2585 on the upside on Tuesday, eventually ending the session at $49.94, with a gain of 8.71% or 4 points. The heightened volatility saw the trading volume jump to 68,73,730 shares. Company has a market cap of $6,079 M.

In a different news, on Aug 24, 2016, Curt Begle (President) sold 20,000 shares at $44.02 per share price. According to the SEC, on May 25, 2016, Jason K. Greene (EVP – Chief Legal Officer) sold 6,314 shares at $39.02 per share price. On May 25, 2016, Mark W Miles (Chief Financial Officer) sold 10,000 shares at $38.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Berry Plastics Group Inc. is engaged in providing plastic consumer packaging and engineered materials. The Company’s products include drink cups thin-wall containers bottles specialty closures prescription vials specialty films adhesives and corrosion protection materials. The Company operates in four operating segments: Rigid Open Top and Rigid Closed Top which sells primarily containers foodservice items closures overcaps bottles prescription containers and tubes; Engineered Materials which sells pipeline corrosion protection solutions tapes and adhesives PE (polyethylene)-based film products and can liners; and Flexible Packaging which sells high barrier multilayer film products as well as finished flexible packages such as printed bags and pouches. The Company sells its solutions into consumer-oriented end-markets such as food and beverage healthcare and personal care.

Berry Plastics Group Inc

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