KeyBanc Sticks to Its Hold Rating for Berry Plastics (BERY)
In a report released today, Adam Josephson from KeyBanc reiterated a Hold rating on Berry Plastics (BERY). The company’s shares opened today at $50.99.
“We are maintaining our FY19 adjusted EBITDA estimate of $1.47 billion (implied guidance is ~$1.5 billion) despite a likely sizable resin benefit in a lesser extent in F3Q, and reducing our FY20 adjusted EBITDA estimate from $1.47 billion to $1.45 billion.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.6% 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 $59.
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Based on Berry Plastics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.05 billion and net profit of $133 million. In comparison, last year the company earned revenue of $1.78 billion and had a net profit of $163 million.
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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.