Today’s Market Runner: Time to Reconsider Berry Plastics Group Inc After Reaching 52-Week High?

Today's Market Runner: Time to Reconsider Berry Plastics Group Inc After Reaching 52 Week High?

The stock of Berry Plastics Group Inc (NYSE:BERY) hit a new 52-week high and has $72.29 target or 56.00% above today’s $46.34 share price. The 5 months bullish chart indicates low risk for the $5.77 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $72.29 price target is reached, the company will be worth $3.23B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 335,667 shares traded hands. Berry Plastics Group Inc (NYSE:BERY) has risen 29.08% since April 15, 2016 and is uptrending. It has outperformed by 24.45% the S&P500.

Berry Plastics Group Inc (NYSE:BERY) Ratings Coverage

Out of 13 analysts covering Berry Plastics Group Inc (NYSE:BERY), 11 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 85% are positive. Berry Plastics Group Inc has been the topic of 18 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by JP Morgan on Tuesday, September 13. The firm earned “Buy” rating on Thursday, May 12 by Goldman Sachs. The firm has “Neutral” rating by Goldman Sachs given on Monday, August 3. On Friday, February 19 the stock rating was initiated by RBC Capital Markets with “Outperform”. As per Friday, August 26, the company rating was maintained by Robert W. Baird. The firm has “Buy” rating given on Tuesday, July 19 by Citigroup. The rating was initiated by Barclays Capital on Wednesday, June 15 with “Overweight”. Macquarie Research initiated the stock with “Outperform” rating in Tuesday, November 10 report. The stock of Berry Plastics Group Inc (NYSE:BERY) has “Outperform” rating given on Friday, August 12 by Credit Suisse. RBC Capital Markets maintained Berry Plastics Group Inc (NYSE:BERY) rating on Wednesday, May 11. RBC Capital Markets has “Outperform” rating and $43 price target.

According to Zacks Investment Research, “Berry Plastics Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company operates in three segments: Rigid Packaging, Engineered Materials and Flexible Packaging. Its rigid packaging products include containers, thermoformed polypropylene and injection-molded plastic drink cups, plastic home and party items, plastic garden products, closures, aerosol overcaps, polyethylene and PET bottles and plastic squeeze tubes for food and beverage, retail mass, healthcare, personal care, and household chemical consumer-oriented end markets. Berry’s flexible packaging products comprises of mono layer and coextruded films; barrier films for cereal, cookie, cracker, and dry mix packages; lamination films for carpet padding; films used for solar panel construction; component and packaging films; printed products; and coated and laminated packaging products. Berry Plastics Group, Inc. is headquartered in Evansville, Indiana.”

Insitutional Activity: The institutional sentiment increased to 1.18 in 2016 Q2. Its up 0.16, from 1.02 in 2016Q1. The ratio is positive, as 23 funds sold all Berry Plastics Group Inc shares owned while 91 reduced positions. 56 funds bought stakes while 79 increased positions. They now own 112.23 million shares or 5.59% less from 118.88 million shares in 2016Q1.
Blackrock Institutional Tru Na holds 0.02% of its portfolio in Berry Plastics Group Inc (NYSE:BERY) for 2.96 million shares. Amalgamated Comml Bank last reported 0.05% of its portfolio in the stock. Counsel Portfolio Svcs has 0.04% invested in the company for 9,391 shares. Macquarie Group owns 2.69M shares or 0.2% of their US portfolio. Deutsche National Bank & Trust Ag last reported 0.01% of its portfolio in the stock. Moreover, State Of Wisconsin Inv Board has 0.01% invested in Berry Plastics Group Inc (NYSE:BERY) for 81,480 shares. Fmr Limited Liability Company has invested 0.01% of its portfolio in Berry Plastics Group Inc (NYSE:BERY). California State Teachers Retirement last reported 0.02% of its portfolio in the stock. The Ontario – Canada-based Bank Of Montreal Can has invested 0.01% in Berry Plastics Group Inc (NYSE:BERY). Art Advisors Ltd Limited Liability Company last reported 89,378 shares in the company. Raymond James holds 138,316 shares or 0.02% of its portfolio. Bridgeway Mngmt Incorporated reported 65,400 shares or 0.04% of all its holdings. Moreover, Janus Capital Mngmt Ltd Company has 0% invested in Berry Plastics Group Inc (NYSE:BERY) for 13,000 shares. Gareth Morgan Invests Partnership accumulated 91,228 shares or 0.35% of the stock. Ameriprise Fincl holds 0.01% or 228,409 shares in its portfolio.

More news for Berry Plastics Group Inc (NYSE:BERY) were recently published by: Businesswire.com, which released: “Berry Plastics Group, Inc. to Report Fourth Quarter and Fiscal Year 2016 …” on November 14, 2016. Moodys.com‘s article titled: “Moody’s places Berry Plastics Group, Inc.’s ratings under review for downgrade” and published on August 25, 2016 is yet another important article.

BERY Company Profile

Berry Plastics Group, Inc., incorporated on November 18, 2005, is a well-known provider of plastic consumer packaging and engineered materials. The Firm 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. The Firm has three divisions: Health, Hygiene and Specialties; Consumer Packaging, and Engineered Materials. The Firm sells its products to end markets, such as healthcare, personal care, and food and beverage. The Company’s Health, Hygiene and Specialties segment includes the personal care films and international business. The Company’s Consumer Packaging segment consists of the food and consumer films business, and the custom shrink films business. The Company’s Engineered Material segment includes the converter films business. The Firm has manufacturing and distribution centers in the United States, Canada, Mexico, Belgium, France, Australia, Germany, Brazil, Malaysia, India, China and the Netherlands.

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