Jefferies Remains a Buy on Berry Plastics

By Jason Carr

Jefferies analyst Philip Ng reiterated a Buy rating on Berry Plastics (NYSE: BERY) yesterday and set a price target of $67. The company’s shares opened today at $56.24, close to its 52-week high of $58.95.

According to TipRanks.com, Ng is a top 100 analyst with an average return of 17.1% and a 78.0% success rate. Ng covers the Consumer Goods sector, focusing on stocks such as Orchids Paper Products Company, International Paper Co, and General Dynamics Corp.

Berry Plastics has an analyst consensus of Moderate Buy, with a price target consensus of $66.33.

Based on Berry Plastics’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.91 billion and quarterly net profit of $107 million. In comparison, last year the company earned revenue of $1.65 billion and had a net profit of $96 million.

Based on the recent corporate insider activity of 32 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.

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 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.