BidaskClub cut shares of BPC Acquisition Corp (NYSE:BERY) from a buy rating to a hold rating in a report issued on Saturday.
Other research analysts have also issued research reports about the company. Credit Suisse Group boosted their price objective on BPC Acquisition Corp from $62.00 to $67.00 and gave the stock an outperform rating in a report on Monday, May 15th. Jefferies Group LLC boosted their price objective on BPC Acquisition Corp from $59.00 to $63.00 and gave the stock a buy rating in a report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a buy rating and issued a $60.00 target price on shares of BPC Acquisition Corp in a research note on Tuesday, April 11th. Zacks Investment Research raised BPC Acquisition Corp from a hold rating to a buy rating and set a $65.00 target price for the company in a research note on Tuesday, June 6th. Finally, ValuEngine raised BPC Acquisition Corp from a hold rating to a buy rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $57.40.
BPC Acquisition Corp (NYSE:BERY) traded down 0.59% during midday trading on Friday, hitting $57.04. 1,568,435 shares of the stock were exchanged. The company’s 50 day moving average is $56.96 and its 200 day moving average is $51.71. The company has a market capitalization of $7.39 billion, a P/E ratio of 24.75 and a beta of 1.09. BPC Acquisition Corp has a 1-year low of $34.98 and a 1-year high of $58.95.
BPC Acquisition Corp (NYSE:BERY) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.12. BPC Acquisition Corp had a return on equity of 110.06% and a net margin of 4.50%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. BPC Acquisition Corp’s revenue was up 11.9% on a year-over-year basis. Analysts predict that BPC Acquisition Corp will post $2.88 earnings per share for the current fiscal year.
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In other news, Director Carl J. Rickertsen sold 29,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 15,119 shares of the company’s stock, valued at $851,955.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Curt Begle sold 18,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $57.02, for a total value of $1,026,360.00. Following the sale, the president now directly owns 1,899 shares of the company’s stock, valued at approximately $108,280.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,000 shares of company stock valued at $4,581,515. Insiders own 3.11% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in BPC Acquisition Corp by 20,404.9% in the first quarter. BlackRock Inc. now owns 5,099,577 shares of the industrial products company’s stock worth $247,685,000 after buying an additional 5,074,707 shares during the period. Canyon Capital Advisors LLC raised its stake in BPC Acquisition Corp by 57.9% in the first quarter. Canyon Capital Advisors LLC now owns 4,957,700 shares of the industrial products company’s stock worth $240,795,000 after buying an additional 1,817,805 shares during the period. Norges Bank bought a new stake in BPC Acquisition Corp during the fourth quarter worth $62,465,000. MARSHALL WACE ASIA Ltd bought a new stake in BPC Acquisition Corp during the first quarter worth $61,097,000. Finally, Marshall Wace North America L.P. bought a new stake in BPC Acquisition Corp during the first quarter worth $61,097,000. 99.69% of the stock is owned by hedge funds and other institutional investors.
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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