Citigroup Has Lowered Expectations for Ball (NYSE:BALL) Stock Price

Ball (NYSE:BALL) had its price target decreased by stock analysts at Citigroup from $69.00 to $59.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 9.79% from the company’s current price.

A number of other analysts have also issued reports on BALL. Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 target price on the stock in a report on Tuesday, December 10th. Truist Financial lowered their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company cut their target price on shares of Ball from $61.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Ball in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.08.

Ball Stock Down 0.5 %

Shares of NYSE:BALL opened at $53.74 on Monday. Ball has a 52 week low of $53.56 and a 52 week high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09. The company has a market cap of $16.04 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The firm has a 50 day simple moving average of $58.75 and a 200 day simple moving average of $61.99.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 34.05% and a return on equity of 17.46%. Ball’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, research analysts expect that Ball will post 3.15 earnings per share for the current year.

Institutional Trading of Ball

A number of institutional investors have recently modified their holdings of BALL. Federated Hermes Inc. raised its holdings in shares of Ball by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock valued at $1,137,000 after acquiring an additional 162 shares in the last quarter. Moors & Cabot Inc. lifted its position in Ball by 4.5% during the third quarter. Moors & Cabot Inc. now owns 4,442 shares of the company’s stock valued at $302,000 after purchasing an additional 192 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Ball by 1.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 16,895 shares of the company’s stock worth $1,147,000 after buying an additional 199 shares in the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Ball by 7.6% in the 3rd quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock worth $206,000 after buying an additional 215 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Ball by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 10,969 shares of the company’s stock valued at $745,000 after buying an additional 216 shares in the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

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.