Price Action to Note: Is Berry Plastics Group Inc a Buy? The Stock Reaches 52-Week High Today

Price Action to Note: Is Berry Plastics Group Inc a Buy? The Stock Reaches 52 Week High Today

The stock of Berry Plastics Group Inc (NYSE:BERY) hit a new 52-week high and has $50.99 target or 4.00% above today’s $49.03 share price. The 5 months bullish chart indicates low risk for the $5.91 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $50.99 price target is reached, the company will be worth $236.40M 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 694,487 shares traded hands. Berry Plastics Group Inc (NYSE:BERY) has risen 25.62% since April 26, 2016 and is uptrending. It has outperformed by 20.36% 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. $55 is the highest target while $35 is the lowest. The $47.33 average target is -3.47% below today’s ($49.03) stock price. Berry Plastics Group Inc has been the topic of 18 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Tuesday, November 10 the stock rating was initiated by Macquarie Research with “Outperform”. The stock of Berry Plastics Group Inc (NYSE:BERY) has “Overweight” rating given on Wednesday, June 15 by Barclays Capital. On Friday, February 19 the stock rating was initiated by RBC Capital Markets with “Outperform”. The rating was maintained by Deutsche Bank on Wednesday, November 18 with “Buy”. On Wednesday, May 11 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Friday, August 12, the company rating was maintained by Credit Suisse. JP Morgan initiated Berry Plastics Group Inc (NYSE:BERY) rating on Tuesday, September 13. JP Morgan has “Overweight” rating and $54 price target. The firm has “Buy” rating by Citigroup given on Wednesday, September 2. Citigroup maintained the shares of BERY in a report on Tuesday, July 19 with “Buy” rating. Goldman Sachs downgraded Berry Plastics Group Inc (NYSE:BERY) rating on Monday, August 3. Goldman Sachs has “Neutral” rating and $35 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 1.23 in Q2 2016. Its up 0.05, from 1.18 in 2016Q1. The ratio improved, 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.
Apriem Advsrs, a California-based fund reported 100 shares. The Connecticut-based Paloma Prtn Mngmt Communications has invested 0.1% in Berry Plastics Group Inc (NYSE:BERY). Monarch Asset Mngmt Ltd Liability, a Massachusetts-based fund reported 162,840 shares. Fdx Advsr holds 0.01% or 8,288 shares in its portfolio. State Street Corp owns 1.35 million shares or 0.01% of their US portfolio. Cubist Systematic Strategies Llc holds 0.4% of its portfolio in Berry Plastics Group Inc (NYSE:BERY) for 175,376 shares. Dsc Limited Partnership has 5.62% invested in the company for 230,000 shares. Avalon Advsrs Ltd owns 46,112 shares or 0.07% of their US portfolio. Zweig last reported 1.46% of its portfolio in the stock. The Illinois-based Castleark Management Limited has invested 0.38% in Berry Plastics Group Inc (NYSE:BERY). The Massachusetts-based Geode Management Ltd Liability Co has invested 0.02% in Berry Plastics Group Inc (NYSE:BERY). Ubs Asset Americas Inc accumulated 0% or 93,914 shares. Systematic Fin Management Limited Partnership has invested 1.19% of its portfolio in Berry Plastics Group Inc (NYSE:BERY). Airain holds 35,982 shares or 0.08% of its portfolio. Nomura Incorporated accumulated 5,400 shares or 0% of the stock.

More important recent Berry Plastics Group Inc (NYSE:BERY) news were published by: Nasdaq.com which released: “Earnings Reaction History: Berry Plastics Group, Inc., 28.6% Follow-Through …” on November 29, 2016, also Businesswire.com published article titled: “Berry Plastics Group, Inc. Reports Fourth Quarter and Fiscal Year 2016 Results”, Moodys.com published: “Moody’s places Berry Plastics Group, Inc.’s ratings under review for downgrade” on August 25, 2016. More interesting news about Berry Plastics Group Inc (NYSE:BERY) was released by: Businesswire.com and their article: “Berry Plastics Group, Inc. to Report Fourth Quarter and Fiscal Year 2016 …” with publication date: November 14, 2016.

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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