Barclays PLC Increases BPC Acquisition Corp (BERY) Price Target to $71.00
BPC Acquisition Corp (NYSE:BERY) had its price objective boosted by research analysts at Barclays PLC from $65.00 to $71.00 in a note issued to investors on Monday. The firm presently has an “overweight” rating on the industrial products company’s stock. Barclays PLC’s price objective suggests a potential upside of 24.50% from the stock’s current price.
A number of other brokerages have also issued reports on BERY. UBS AG initiated coverage on shares of BPC Acquisition Corp in a research note on Tuesday, July 25th. They set a “buy” rating and a $67.00 price target on the stock. BidaskClub lowered shares of BPC Acquisition Corp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of BPC Acquisition Corp in a research note on Tuesday, April 11th. Zacks Investment Research upgraded shares of BPC Acquisition Corp from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, SunTrust Banks, Inc. upgraded shares of BPC Acquisition Corp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $65.00 in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. BPC Acquisition Corp has an average rating of “Buy” and a consensus price target of $62.91.
Shares of BPC Acquisition Corp (NYSE:BERY) opened at 57.03 on Monday. The company’s 50 day moving average is $57.34 and its 200 day moving average is $53.28. BPC Acquisition Corp has a 12 month low of $39.45 and a 12 month high of $58.95. The company has a market cap of $7.39 billion, a P/E ratio of 24.74 and a beta of 1.08.
BPC Acquisition Corp (NYSE:BERY) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.10. BPC Acquisition Corp had a net margin of 4.49% and a return on equity of 76.66%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.82 EPS. BPC Acquisition Corp’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that BPC Acquisition Corp will post $3.02 EPS for the current fiscal year.
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In related news, President Curt Begle sold 18,000 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $57.02, for a total transaction of $1,026,360.00. Following the sale, the president now directly owns 1,899 shares of the company’s stock, valued at $108,280.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl J. Rickertsen sold 29,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $56.35, for a total transaction of $1,662,325.00. Following the sale, the director now directly owns 15,119 shares in the company, valued at $851,955.65. The disclosure for this sale can be found here. Insiders sold 63,000 shares of company stock worth $3,587,375 in the last quarter. Company insiders own 3.11% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Syntal Capital Partners LLC purchased a new stake in shares of BPC Acquisition Corp during the second quarter worth about $651,000. Victory Capital Management Inc. increased its stake in shares of BPC Acquisition Corp by 0.3% in the second quarter. Victory Capital Management Inc. now owns 146,828 shares of the industrial products company’s stock worth $8,371,000 after buying an additional 375 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of BPC Acquisition Corp during the second quarter worth about $228,000. Braun Stacey Associates Inc. increased its stake in shares of BPC Acquisition Corp by 14.6% in the second quarter. Braun Stacey Associates Inc. now owns 166,440 shares of the industrial products company’s stock worth $9,489,000 after buying an additional 21,265 shares during the period. Finally, BB&T Corp increased its stake in shares of BPC Acquisition Corp by 11.8% in the second quarter. BB&T Corp now owns 30,085 shares of the industrial products company’s stock worth $1,715,000 after buying an additional 3,166 shares during the period. 99.45% of the stock is currently owned by hedge funds and other institutional investors.
BPC Acquisition Corp Company Profile
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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