Jefferies Group LLC Reaffirms “Buy” Rating for BPC Acquisition Corp (BERY)

Jefferies Group LLC reaffirmed their buy rating on shares of BPC Acquisition Corp (NYSE:BERY) in a report issued on Friday morning. The brokerage currently has a $67.00 target price on the industrial products company’s stock, up from their previous target price of $63.00.

Other research analysts also recently issued research reports about the stock. Deutsche Bank AG lifted their price target on shares of BPC Acquisition Corp from $56.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, May 4th. Credit Suisse Group lifted their price target on shares of BPC Acquisition Corp from $62.00 to $67.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Royal Bank Of Canada reiterated a buy rating and issued a $63.00 price target on shares of BPC Acquisition Corp in a research note on Wednesday, July 12th. ValuEngine upgraded shares of BPC Acquisition Corp from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of BPC Acquisition Corp from a hold rating to a sell rating in a research note on Tuesday, April 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BPC Acquisition Corp has a consensus rating of Buy and an average price target of $60.10.

Shares of BPC Acquisition Corp (BERY) traded down 0.42% during midday trading on Friday, hitting $57.52. 321,499 shares of the stock traded hands. The stock has a 50-day moving average of $57.47 and a 200-day moving average of $52.07. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 24.95 and a beta of 1.09. BPC Acquisition Corp has a 52-week low of $39.45 and a 52-week high of $58.95.

BPC Acquisition Corp (NYSE:BERY) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.12. BPC Acquisition Corp had a net margin of 4.50% and a return on equity of 110.06%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that BPC Acquisition Corp will post $2.89 earnings per share for the current fiscal year.

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In other news, Director Evan Bayh sold 15,500 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $57.98, for a total transaction of $898,690.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $2,319,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Curt Begle sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $55.23, for a total transaction of $994,140.00. Following the sale, the president now owns 31,200 shares of the company’s stock, valued at approximately $1,723,176. The disclosure for this sale can be found here. Insiders have sold a total of 81,000 shares of company stock valued at $4,581,515 in the last 90 days. Insiders own 3.11% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Quadrant L P CA bought a new stake in shares of BPC Acquisition Corp during the first quarter valued at $144,000. FTB Advisors Inc. increased its stake in shares of BPC Acquisition Corp by 809.5% in the first quarter. FTB Advisors Inc. now owns 3,811 shares of the industrial products company’s stock valued at $185,000 after buying an additional 3,392 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of BPC Acquisition Corp by 2.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 3,992 shares of the industrial products company’s stock valued at $194,000 after buying an additional 111 shares in the last quarter. CrestPoint Capital Management LLC bought a new stake in shares of BPC Acquisition Corp during the second quarter valued at $205,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of BPC Acquisition Corp during the first quarter valued at $218,000. Institutional investors and hedge funds own 98.21% of the company’s stock.

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.

Analyst Recommendations for BPC Acquisition Corp (NYSE:BERY)

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