Royal Bank Of Canada Reaffirms Buy Rating for BPC Acquisition Corp (BERY)

Royal Bank Of Canada reaffirmed their buy rating on shares of BPC Acquisition Corp (NYSE:BERY) in a research report released on Wednesday morning. They currently have a $63.00 price target on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. SunTrust Banks, Inc. upgraded shares of BPC Acquisition Corp from a hold rating to a buy rating and raised their price target for the stock from $51.00 to $65.00 in a research note on Monday, June 26th. Jefferies Group LLC reaffirmed a buy rating and issued a $63.00 price objective on shares of BPC Acquisition Corp in a report on Thursday, June 8th. Zacks Investment Research raised shares of BPC Acquisition Corp from a hold rating to a buy rating and set a $65.00 price objective for the company in a report on Tuesday, June 6th. ValuEngine raised shares of BPC Acquisition Corp from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG raised their price objective on shares of BPC Acquisition Corp from $56.00 to $60.00 and gave the stock a buy rating in a report on Thursday, May 4th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $60.10.

Shares of BPC Acquisition Corp (NYSE:BERY) opened at 57.76 on Wednesday. The stock’s 50 day moving average price is $57.47 and its 200-day moving average price is $52.07. BPC Acquisition Corp has a one year low of $39.45 and a one year high of $58.95. The company has a market cap of $7.48 billion, a PE ratio of 25.06 and a beta of 1.09.

BPC Acquisition Corp (NYSE:BERY) last issued its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business posted $0.58 EPS. BPC Acquisition Corp’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that BPC Acquisition Corp will post $2.89 EPS for the current year.

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In other BPC Acquisition Corp news, Director Carl J. Rickertsen sold 29,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $56.35, for a total value of $1,662,325.00. Following the completion of the transaction, the director now directly owns 15,119 shares of the company’s stock, valued at approximately $851,955.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Curt Begle sold 18,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $55.23, for a total transaction of $994,140.00. Following the completion of the transaction, the president now directly owns 31,200 shares of the company’s stock, valued at $1,723,176. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,000 shares of company stock valued at $4,581,515. Insiders own 3.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in shares of BPC Acquisition Corp during the first quarter valued at approximately $330,000. Braun Stacey Associates Inc. increased its position in shares of BPC Acquisition Corp by 37.1% in the first quarter. Braun Stacey Associates Inc. now owns 145,175 shares of the industrial products company’s stock valued at $7,051,000 after buying an additional 39,280 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of BPC Acquisition Corp by 19.2% in the first quarter. Nationwide Fund Advisors now owns 533,082 shares of the industrial products company’s stock valued at $25,892,000 after buying an additional 86,027 shares in the last quarter. Navellier & Associates Inc increased its position in shares of BPC Acquisition Corp by 5.0% in the first quarter. Navellier & Associates Inc now owns 26,309 shares of the industrial products company’s stock valued at $1,278,000 after buying an additional 1,244 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its position in shares of BPC Acquisition Corp by 54.1% in the first quarter. Quantitative Systematic Strategies LLC now owns 45,767 shares of the industrial products company’s stock valued at $2,223,000 after buying an additional 16,074 shares in the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.

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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