Long Position on BERY @ $51.25 on 12/13/2016 (Momentum)

Berry Plastics Group, Inc. (BERY) manufactures and distributes plastic consumer packaging and engineered materials.

The company operates through three segments: Health, Hygiene & Specialties; Consumer Packaging; and Engineered Materials.

It offers containers; foodservice products, such as thermoformed polypropylene and injection-molded plastic drink cups; closures and over caps comprising continuous-thread and child-resistant closures, as well as aerosol over caps; bottle and prescription containers; and extruded and laminate tubes.

The company also provides engineered materials, including corrosion protection products; and cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes.

The company’s engineered materials also consists of drop cloths and retail trash bags; polyvinyl chloride films and boxed products; trash-can liners and food bags; and stretch and shrink films.

In addition, it offers flexible packaging products, such as personal care films; food and consumer films, as well as barrier films; and converter films, including coated and laminated products, as well as a range of products for the food, healthcare, and personal care markets. 

Shares have formed a bullish "cup and handle" following its recent earnings report. It it had profit of 61 cents per share, 2 cents above the estimates on revene of $1.62 billion. For the year, the company reported profit of $236 million, or $1.89 per share. Revenue was reported as $6.49 billion. It reported year-over-year earnings grwoth of 35.28%. Higher share prices are expected for this stock.

52-Weeks Trading Range: $27.79 - $51.31

Entry Point: $51.25

Stop Loss: $48.65

Target Price: $56.38

Updates

1/13/2017 10:41:47 AM

BERY closed at $50.15.

Position closed on 1/13/2017 at price of $50.15 with a -2.15% loss in 31 days.

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