Wells Fargo & Company Issues Pessimistic Forecast for Ball (NYSE:BALL) Stock Price

Ball (NYSE:BALL) had its price objective dropped by stock analysts at Wells Fargo & Company from $63.00 to $61.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 3.37% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Truist Financial reiterated a “buy” rating and issued a $78.00 target price (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. UBS Group boosted their target price on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Baird R W upgraded shares of Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, Citigroup boosted their target price on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.92.

Ball Stock Down 0.4 %

BALL stock opened at $59.01 on Friday. The firm’s fifty day simple moving average is $65.18 and its 200-day simple moving average is $65.02. The company has a market capitalization of $17.91 billion, a P/E ratio of 4.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.88. Ball has a 12 month low of $47.56 and a 12 month high of $71.32.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. As a group, equities research analysts forecast that Ball will post 3.12 earnings per share for the current year.

Institutional Investors Weigh In On Ball

A number of hedge funds have recently modified their holdings of BALL. Friedenthal Financial acquired a new stake in shares of Ball in the second quarter valued at about $47,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Ball in the third quarter valued at about $47,000. Quarry LP grew its holdings in shares of Ball by 598.6% in the second quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Ball by 334.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock valued at $68,000 after purchasing an additional 815 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Ball by 29.1% in the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after purchasing an additional 228 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.

About Ball

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.