Citigroup Cuts Ball (NYSE:BALL) Price Target to $59.00

Ball (NYSE:BALL) had its price target lowered by Citigroup from $69.00 to $59.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on BALL. Wells Fargo & Company lowered their price target on Ball from $61.00 to $56.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Ball in a report on Monday, November 4th. 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 research 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 research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.08.

Ball Stock Performance

NYSE BALL opened at $53.49 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $15.96 billion, a PE ratio of 4.03, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. The business’s 50-day moving average price is $58.54 and its 200 day moving average price is $61.93. Ball has a twelve month low of $52.97 and a twelve month high of $71.32.

Ball (NYSE:BALL) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.83 earnings per share. On average, research analysts predict that Ball will post 3.15 earnings per share for the current year.

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. Ball’s dividend payout ratio is presently 6.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Peterson Financial Group Inc. purchased a new stake in Ball during the 3rd quarter worth approximately $30,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Ball during the third quarter worth approximately $47,000. Quarry LP increased its stake in shares of Ball by 598.6% in the second quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after buying an additional 856 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Ball in the third quarter valued at $66,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Ball by 334.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after acquiring an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

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.