Ball (NYSE:BALL) PT Lowered to $75.00 at Royal Bank of Canada

Ball (NYSE:BALL) had its target price cut by Royal Bank of Canada from $77.00 to $75.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on BALL. UBS Group boosted their price objective on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Truist Financial reiterated a “buy” rating and issued a $78.00 price target (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Ball from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Citigroup increased their target price on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and an average price target of $71.08.

Ball Price Performance

BALL stock opened at $67.25 on Thursday. The firm has a 50 day moving average of $65.10 and a 200-day moving average of $65.18. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 1.63 and a beta of 0.88. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. Ball has a 12-month low of $42.81 and a 12-month high of $71.32.

Ball (NYSE:BALL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a return on equity of 19.45% and a net margin of 32.79%. Ball’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, equities analysts expect that Ball will post 3.12 EPS for the current fiscal year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.80 annualized dividend and a yield of 1.19%. Ball’s payout ratio is currently 6.02%.

Hedge Funds Weigh In On Ball

Several large investors have recently added to or reduced their stakes in BALL. HighPoint Advisor Group LLC acquired a new stake in shares of Ball in the fourth quarter worth approximately $274,000. Los Angeles Capital Management LLC purchased a new position in shares of Ball in the 1st quarter worth $1,973,000. GAMMA Investing LLC grew its position in Ball by 23.7% during the first quarter. GAMMA Investing LLC now owns 2,539 shares of the company’s stock valued at $171,000 after acquiring an additional 487 shares during the period. Mather Group LLC. acquired a new stake in Ball during the first quarter worth about $170,000. Finally, Czech National Bank increased its stake in Ball by 0.5% during the first quarter. Czech National Bank now owns 55,477 shares of the company’s stock worth $3,737,000 after acquiring an additional 255 shares during the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Ball Company Profile

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.