BPC Acquisition Corp (BERY) Releases Earnings Results, Beats Expectations By $0.10 EPS
BPC Acquisition Corp (NYSE:BERY) released its earnings results on Thursday. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.10, Briefing.com reports. BPC Acquisition Corp had a net margin of 4.50% and a return on equity of 110.06%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year.
Shares of BPC Acquisition Corp (NYSE BERY) traded down 0.40% during midday trading on Friday, hitting $57.42. 1,078,897 shares of the company were exchanged. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 24.91 and a beta of 1.08. BPC Acquisition Corp has a 52-week low of $39.45 and a 52-week high of $58.95. The company has a 50-day moving average price of $57.39 and a 200-day moving average price of $53.19.
A number of equities research analysts have recently issued reports on BERY shares. Zacks Investment Research lowered shares of BPC Acquisition Corp from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Deutsche Bank AG upped their target price on shares of BPC Acquisition Corp from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Jefferies Group LLC upped their target price on shares of BPC Acquisition Corp from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Credit Suisse Group upped their target price on shares of BPC Acquisition Corp from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, SunTrust Banks, Inc. raised shares of BPC Acquisition Corp from a “hold” rating to a “buy” rating and upped their target price for the stock from $51.00 to $65.00 in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $62.10.
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In other BPC Acquisition Corp news, Director Carl J. Rickertsen sold 29,500 shares of BPC Acquisition Corp stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $56.35, for a total value of $1,662,325.00. Following the completion of the sale, the director now owns 15,119 shares in the company, valued at approximately $851,955.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Evan Bayh sold 15,500 shares of BPC Acquisition Corp stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $57.98, for a total value of $898,690.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $2,319,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,000 shares of company stock valued at $3,587,375. 3.11% of the stock is currently owned by company insiders.
About BPC Acquisition Corp
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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