Ball (NYSE:BALL) Price Target Raised to $77.00

Ball (NYSE:BALL) had its price target increased by analysts at Royal Bank Of Canada from $73.00 to $77.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 15.56% from the stock’s previous close.

BALL has been the topic of several other reports. JPMorgan Chase & Co. downgraded Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Wednesday. Citigroup cut Ball from a “buy” rating to a “reduce” rating in a report on Wednesday, August 5th. Bank of America increased their price target on Ball from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Truist Financial restated a “buy” rating and issued a $76.00 price objective (down from $78.00) on shares of Ball in a report on Wednesday. Finally, Weiss Ratings upgraded Ball from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.77.

Ball Trading Down 1.1%

NYSE BALL traded down $0.75 during trading on Thursday, hitting $66.63. The stock had a trading volume of 1,816,636 shares, compared to its average volume of 2,379,409. Ball has a one year low of $46.06 and a one year high of $69.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.66 and a current ratio of 1.04. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 1.29 and a beta of 0.94. The stock has a 50 day simple moving average of $61.27 and a 200 day simple moving average of $61.01.

Ball (NYSE:BALL) last released its earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.78 billion. Ball had a return on equity of 18.81% and a net margin of 3.52%. The business’s revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. Sell-side analysts predict that Ball will post 3.93 earnings per share for the current year.

Insider Buying and Selling

In other Ball news, SVP Mandy Glew sold 5,626 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $459,934.20. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Ball

Large investors have recently made changes to their positions in the business. North Dakota State Investment Board grew its position in shares of Ball by 2.2% in the 3rd quarter. North Dakota State Investment Board now owns 8,149 shares of the company’s stock valued at $457,000 after purchasing an additional 178 shares during the period. Leonteq Securities AG raised its holdings in Ball by 3.6% during the 2nd quarter. Leonteq Securities AG now owns 5,415 shares of the company’s stock worth $338,000 after buying an additional 188 shares during the period. Andrew Hill Investment Advisors Inc. raised its holdings in Ball by 2.3% during the 3rd quarter. Andrew Hill Investment Advisors Inc. now owns 8,719 shares of the company’s stock worth $489,000 after buying an additional 195 shares during the period. Parkside Financial Bank & Trust lifted its stake in Ball by 29.8% in the second quarter. Parkside Financial Bank & Trust now owns 863 shares of the company’s stock valued at $54,000 after buying an additional 198 shares in the last quarter. Finally, Parvin Asset Management LLC lifted its stake in Ball by 19.5% in the first quarter. Parvin Asset Management LLC now owns 1,315 shares of the company’s stock valued at $78,000 after buying an additional 215 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Ball reported third-quarter EPS of $1.10, above the $1.07 consensus, and revenue of $4.19 billion, up 23.9% year over year and ahead of estimates. Packaging volumes also rose, supporting the company’s growth outlook. Ball Q3 comparable earnings and net sales rise
• Positive Sentiment: Mizuho raised its target to $75 and reiterated an outperform rating. Truist maintained its buy rating with a $76 target, though it lowered that target from $78. Mizuho rating information Truist rating information
• Neutral Sentiment: UBS lifted its price target from $63 to $68 but kept a neutral rating. The reported analyst consensus target is $71.46, indicating differing views on the shares. UBS rating information
• Negative Sentiment: JPMorgan cut Ball from overweight to neutral and set a $65 target, below the share price cited in the report. That downgrade, alongside reports that shares fell after the earnings release, may have weighed on sentiment despite the earnings beat. JPMorgan rating information

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.