Berry Plastics Group Inc. (NYSE:BERY) shares hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $49.31 and last traded at $49.43, with a volume of 4,631,110 shares trading hands. The stock had previously closed at $45.94.

The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.14. The company earned $1.62 billion during the quarter, compared to the consensus estimate of $1.62 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. Berry Plastics Group’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS.

BERY has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Berry Plastics Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 25th. BMO Capital Markets increased their price objective on shares of Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, August 26th. Jefferies Group reiterated a “buy” rating and issued a $52.00 price objective on shares of Berry Plastics Group in a report on Thursday, October 20th. JPMorgan Chase & Co. initiated coverage on shares of Berry Plastics Group in a report on Tuesday, September 13th. They issued an “overweight” rating and a $54.00 price objective for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price objective (up previously from $52.00) on shares of Berry Plastics Group in a report on Monday, August 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Berry Plastics Group has a consensus rating of “Buy” and a consensus price target of $51.54.

Institutional investors have recently modified their holdings of the stock. Scout Investments Inc. acquired a new position in shares of Berry Plastics Group during the third quarter valued at approximately $227,000. Price T Rowe Associates Inc. MD boosted its position in shares of Berry Plastics Group by 9.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 951,034 shares of the company’s stock valued at $41,703,000 after buying an additional 81,611 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Berry Plastics Group by 20.3% in the third quarter. Quantitative Systematic Strategies LLC now owns 27,211 shares of the company’s stock valued at $1,203,000 after buying an additional 4,593 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Berry Plastics Group by 206.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 254,153 shares of the company’s stock valued at $11,144,000 after buying an additional 171,334 shares in the last quarter. Finally, Canyon Capital Advisors LLC boosted its position in shares of Berry Plastics Group by 10.8% in the third quarter. Canyon Capital Advisors LLC now owns 3,568,501 shares of the company’s stock valued at $156,479,000 after buying an additional 347,526 shares in the last quarter.

The firm has a market capitalization of $6.05 billion, a P/E ratio of 29.77 and a beta of 1.07. The company’s 50-day moving average is $44.99 and its 200 day moving average is $42.25.

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About Berry Plastics Group

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.

5 Day Chart for NYSE:BERY

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