Zacks Investment Research lowered shares of BPC Acquisition Corp (NYSE:BERY) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “Berry Global Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company’s products include engineered materials, non-woven specialty materials and consumer packaging. Berry Global Group, Inc., formerly known as Berry Plastics Group, Inc., is headquartered in Evansville, Indiana. “

BERY has been the topic of several other reports. Citigroup Inc. reaffirmed a buy rating on shares of BPC Acquisition Corp in a report on Thursday, August 31st. BidaskClub lowered shares of BPC Acquisition Corp from a sell rating to a strong sell rating in a report on Wednesday, September 20th. SunTrust Banks, Inc. raised shares of BPC Acquisition Corp from a hold rating to a buy rating and upped their price target for the company from $51.00 to $65.00 in a report on Monday, June 26th. UBS AG initiated coverage on shares of BPC Acquisition Corp in a report on Tuesday, July 25th. They issued a buy rating and a $67.00 price target on the stock. Finally, KeyCorp reaffirmed a hold rating on shares of BPC Acquisition Corp in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. BPC Acquisition Corp currently has an average rating of Buy and a consensus price target of $64.08.

BPC Acquisition Corp (NYSE:BERY) traded up 0.08% during trading on Monday, hitting $58.97. The stock had a trading volume of 58,173 shares. BPC Acquisition Corp has a 52-week low of $42.74 and a 52-week high of $59.72. The company’s 50 day moving average is $56.95 and its 200 day moving average is $55.81. The firm has a market cap of $7.69 billion, a PE ratio of 25.04 and a beta of 1.08.

BPC Acquisition Corp (NYSE:BERY) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.10. BPC Acquisition Corp had a return on equity of 76.66% and a net margin of 4.49%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.82 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that BPC Acquisition Corp will post $3.04 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of BPC Acquisition Corp by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 10,135,557 shares of the industrial products company’s stock worth $492,284,000 after acquiring an additional 1,089,650 shares in the last quarter. BlackRock Inc. boosted its stake in shares of BPC Acquisition Corp by 20,404.9% during the 1st quarter. BlackRock Inc. now owns 5,099,577 shares of the industrial products company’s stock worth $247,685,000 after acquiring an additional 5,074,707 shares in the last quarter. Canyon Capital Advisors LLC boosted its stake in shares of BPC Acquisition Corp by 57.9% during the 1st quarter. Canyon Capital Advisors LLC now owns 4,957,700 shares of the industrial products company’s stock worth $240,795,000 after acquiring an additional 1,817,805 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of BPC Acquisition Corp by 62.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,296,538 shares of the industrial products company’s stock worth $111,543,000 after acquiring an additional 885,061 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of BPC Acquisition Corp by 10.5% during the 1st quarter. State Street Corp now owns 1,706,880 shares of the industrial products company’s stock worth $82,903,000 after acquiring an additional 162,250 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for BPC Acquisition Corp (NYSE:BERY)

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