KeyBanc analyst Adam Josephson maintained a Hold rating on Berry Plastics (BERY) today. The company’s shares opened today at $53.57.
Josephson said:
“We are reducing our FY19 adjusted EBITDA estimate from $1.47B to $1.42B (below consensus of $1.49B) and our FY20 adjusted EBITDA estimate from $1.45B to $1.40B (below consensus of $1.52B). Consensus was expecting organic adjusted EBITDA growth in both BERY’s organic adjusted EBITDA was down 4% in FY18 and is down 2% in F1H19, so we don’t think consensus has good reason to expect that.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.2% and a 67.1% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Currently, the analyst consensus on Berry Plastics is a Moderate Buy with an average price target of $64.50, which is a 20.4% upside from current levels. In a report issued on April 17, Morgan Stanley also maintained a Hold rating on the stock with a $60 price target.
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The company has a one-year high of $59.16 and a one-year low of $40.50. Currently, Berry Plastics has an average volume of 1.52M.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is neutral on the stock. Most recently, in February 2019, Jason Greene, the EVP – Chief Legal Officer of BERY bought 2,545 shares for a total of $53,445.
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Berry Global Group, Inc. engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging; Health, Hygiene & Specialties; and Engineered Materials.
