BPC Acquisition Corp (NYSE:BERY) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $55.50, but opened at $58.25. BPC Acquisition Corp shares last traded at $59.91, with a volume of 2606742 shares.
The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. BPC Acquisition Corp had a return on equity of 76.66% and a net margin of 4.49%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share.
BERY has been the subject of several analyst reports. Zacks Investment Research raised BPC Acquisition Corp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, October 3rd. Citigroup Inc. reaffirmed a “buy” rating on shares of BPC Acquisition Corp in a report on Thursday, August 31st. BidaskClub lowered BPC Acquisition Corp from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $65.00 target price on shares of BPC Acquisition Corp in a report on Monday, October 2nd. Finally, UBS AG initiated coverage on BPC Acquisition Corp in a report on Tuesday, July 25th. They issued a “buy” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.00.
In other BPC Acquisition Corp news, President Curt Begle sold 5,440 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.03, for a total transaction of $326,563.20. Following the completion of the transaction, the president now directly owns 5,440 shares of the company’s stock, valued at $326,563.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 34,378 shares of company stock valued at $2,063,324. 3.11% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC grew its holdings in BPC Acquisition Corp by 315.6% during the second quarter. Acrospire Investment Management LLC now owns 2,107 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,600 shares during the period. CrestPoint Capital Management LLC bought a new position in BPC Acquisition Corp during the second quarter valued at $205,000. Tocqueville Asset Management L.P. bought a new position in BPC Acquisition Corp during the second quarter valued at $228,000. Oakbrook Investments LLC bought a new position in BPC Acquisition Corp during the third quarter valued at $246,000. Finally, Symphony Asset Management LLC grew its holdings in BPC Acquisition Corp by 4.0% during the second quarter. Symphony Asset Management LLC now owns 7,671 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 295 shares during the period. 94.38% of the stock is owned by institutional investors and hedge funds.
The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 6.91. The stock has a market capitalization of $7,810.00, a price-to-earnings ratio of 19.85, a P/E/G ratio of 0.86 and a beta of 1.08.
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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.
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