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

Ball (NYSE:BALL) had its price objective decreased by analysts at Wells Fargo & Company from $61.00 to $56.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 1.97% from the stock’s previous close.

Several other analysts have also recently weighed in on BALL. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Ball in a report on Monday, November 4th. Citigroup boosted their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a report on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Ball Price Performance

BALL traded up $0.89 during trading on Monday, reaching $54.92. 395,596 shares of the company were exchanged, compared to its average volume of 1,465,185. The company’s 50-day moving average is $59.16 and its two-hundred day moving average is $62.09. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. Ball has a 12-month low of $53.85 and a 12-month high of $71.32. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 4.14, a P/E/G ratio of 1.44 and a beta of 0.91.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. Research analysts forecast that Ball will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ball

Several institutional investors have recently made changes to their positions in the business. Everence Capital Management Inc. purchased a new stake in Ball during the fourth quarter valued at approximately $774,000. Principal Financial Group Inc. increased its stake in shares of Ball by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 364,856 shares of the company’s stock worth $24,777,000 after purchasing an additional 3,967 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Ball during the third quarter valued at $504,000. Oddo BHF Asset Management Sas bought a new stake in Ball during the third quarter valued at about $1,195,000. Finally, Inspire Trust Co. N.A. grew its stake in shares of Ball by 20.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 48,000 shares of the company’s stock valued at $3,260,000 after acquiring an additional 8,000 shares during the period. Institutional investors own 86.51% of the company’s stock.

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.