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Berry Plastics Group Inc (BERY) Lowered To Sell At Zacks Investment Research

Epluser Co.,Limited | Updated: Feb 22, 2016

Zacks Investment Research cut shares of Berry Plastics Group Inc (NASDAQ:BERY) from a hold rating to a sell rating in a research report sent to investors on Monday,Market Beat reports.

According to Zacks, “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. “

A number of institutional investors have modified their holdings of BERY. Vanguard Group Inc. boosted its position in shares of Berry Plastics Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,403,056 shares of the company’s stock valued at $340,202,000 after buying an additional 51,625 shares in the last quarter. Boston Partners boosted its position in shares of Berry Plastics Group by 142.5% in the fourth quarter. Boston Partners now owns 2,940,853 shares of the company’s stock valued at $106,400,000 after buying an additional 1,728,374 shares in the last quarter. Axiom International Investors LLC DE boosted its position in shares of Berry Plastics Group by 10,309.5% in the fourth quarter. Axiom International Investors LLC DE now owns 1,984,253 shares of the company’s stock valued at $71,790,000 after buying an additional 1,965,191 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Berry Plastics Group by 34.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,355,258 shares of the company’s stock valued at $49,033,000 after buying an additional 344,273 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Berry Plastics Group by 9.3% in the fourth quarter. OppenheimerFunds Inc. now owns 813,105 shares of the company’s stock valued at $29,418,000 after buying an additional 69,425 shares in the last quarter.

BERY has been the subject of a number of other research reports. Credit Suisse restated an outperform rating and set a $39.00 price target on shares of Berry Plastics Group in a report on Monday, February 1st. Barclays restated an outperform rating and set a $42.00 price target (up previously from $39.00) on shares of Berry Plastics Group in a report on Thursday, December 3rd. Macquarie initiated coverage on shares of Berry Plastics Group in a report on Tuesday, November 10th. They set an outperform rating and a $42.00 price target for the company. Robert W. Baird restated an outperform rating and set a $40.00 price target (up previously from $36.00) on shares of Berry Plastics Group in a report on Thursday, December 3rd. Finally, Deutsche Bank restated a buy rating and set a $42.00 price target (up previously from $38.00) on shares of Berry Plastics Group in a report on Monday, November 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $39.80.

Berry Plastics Group (NASDAQ:BERY) opened at 29.59 on Monday. The company’s 50 day moving average price is $31.80 and its 200 day moving average price is $32.57. Berry Plastics Group has a 12 month low of $27.79 and a 12 month high of $37.59. The stock has a market cap of $3.57 billion and a PE ratio of 47.88.

Berry Plastics Group (NASDAQ:BERY) last announced its quarterly earnings results on Wednesday, February 10th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.05. During the same period in the prior year, the company earned $0.27 EPS. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. Berry Plastics Group’s revenue was up 32.1% on a year-over-year basis. Equities analysts forecast that Berry Plastics Group will post $2.02 EPS for the current fiscal year.

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 (NASDAQ:BERY)-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.

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