Ball (NYSE:BALL) Price Target Raised to $63.00

Ball (NYSE:BALL) had its target price upped by Wells Fargo & Company from $61.00 to $63.00 in a report issued on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. UBS Group increased their target price on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. 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 report on Wednesday, October 2nd. Baird R W upgraded shares of Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada lowered their target price on Ball from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.08.

Ball Stock Performance

BALL opened at $66.81 on Tuesday. The firm’s fifty day simple moving average is $65.00 and its two-hundred day simple moving average is $65.21. Ball has a 52-week low of $42.81 and a 52-week high of $71.32. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 5.03, a PEG ratio of 1.63 and a beta of 0.88. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last posted 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. Ball had a return on equity of 19.45% and a net margin of 32.79%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $0.61 EPS. Ball’s revenue was down 3.5% compared to the same quarter last year. Equities analysts anticipate that Ball will post 3.12 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.80 annualized dividend and a yield of 1.20%. Ball’s payout ratio is 6.02%.

Institutional Investors Weigh In On Ball

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jessup Wealth Management Inc acquired a new stake in shares of Ball during the 1st quarter worth about $7,479,000. TD Asset Management Inc raised its stake in shares of Ball by 4.2% in the 1st quarter. TD Asset Management Inc now owns 1,453,639 shares of the company’s stock valued at $97,917,000 after acquiring an additional 58,863 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Ball in the 1st quarter worth approximately $1,973,000. QRG Capital Management Inc. lifted its holdings in shares of Ball by 306.6% in the 2nd quarter. QRG Capital Management Inc. now owns 31,750 shares of the company’s stock worth $1,906,000 after acquiring an additional 23,941 shares during the last quarter. Finally, Addenda Capital Inc. boosted its position in shares of Ball by 7.3% during the 2nd quarter. Addenda Capital Inc. now owns 153,464 shares of the company’s stock worth $9,211,000 after purchasing an additional 10,427 shares during the period. Hedge funds and other 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.