BMO Capital Keeps a Hold Rating on Berry Plastics

By Jason Carr

In a report released yesterday, Mark Wilde from BMO Capital reiterated a Hold rating on Berry Plastics (NYSE: BERY), with a price target of $54. The company’s shares closed yesterday at $58.77, close to its 52-week high of $58.82.

According to TipRanks.com, Wilde is a 5-star analyst with an average return of 13.0% and a 83.6% success rate. Wilde covers the Consumer Goods sector, focusing on stocks such as Multi Packaging Solutions, International Paper Co, and Graphic Packaging.

Berry Plastics has an analyst consensus of Moderate Buy, with a price target consensus of $61.25.

The company has a one year high of $58.82 and a one year low of $34.98. Currently, Berry Plastics has an average volume of 1.15M.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BERY in relation to earlier this year. Last month, Jason Greene, the EVP – General Counsel of BERY sold 10,000 shares for a total of $557,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Berry Global Group, Inc. engages in the manufacture and marketing of value-added plastic consumer packaging and engineered materials. It operates through the following segments: Rigid Packaging, Engineered Materials, and Flexible Packaging. The Rigid Packaging segment comprises of both Rigid Open Top and Rigid Closed Top, which includes containers, foodservice items, closures, over caps, bottles, prescription containers, and tubes. The Engineered Materials segment consists of pipeline corrosion protection solutions, tapes and adhesives, PE-based film products and can liners. The Flexible Packaging segment consists of high barrier, multilayer film products as well as finished flexible packages such as printed pouches. The company was founded on November 18, 2005 and is headquartered in Evansville, IN.