Ball (NYSE:BALL) Price Target Raised to $68.00

Ball (NYSE:BALL) had its target price hoisted by UBS Group from $63.00 to $68.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

BALL has been the subject of a number of other reports. Bank of America boosted their target price on shares of Ball from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. downgraded Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Wednesday. Citigroup downgraded Ball from a “buy” rating to a “reduce” rating in a research note on Wednesday, August 5th. Wells Fargo & Company cut their price objective on Ball from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Royal Bank Of Canada reduced their price objective on Ball from $77.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, October 13th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ball has a consensus rating of “Moderate Buy” and an average target price of $72.15.

Ball Stock Performance

Shares of BALL traded down $1.03 during mid-day trading on Wednesday, hitting $65.88. 2,571,933 shares of the company traded hands, compared to its average volume of 2,401,678. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.37 and a beta of 0.94. The stock has a 50-day moving average price of $61.38 and a two-hundred day moving average price of $61.11. Ball has a 1 year low of $46.06 and a 1 year high of $69.57. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.66 and a current ratio of 1.07.

Ball (NYSE:BALL) last issued its earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. Ball had a net margin of 6.61% and a return on equity of 18.76%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts anticipate that Ball will post 4.00 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Ball’s payout ratio is presently 40.20%.

Insider Activity at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was 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 represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ball

Several institutional investors and hedge funds have recently bought and sold shares of BALL. Pension & Wealth Management Advisors Inc. bought a new stake in Ball during the third quarter valued at about $25,000. Basecamp Wealth Advisors LLC increased its position in Ball by 135.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company’s stock worth $28,000 after buying an additional 274 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Ball in the second quarter worth about $30,000. Fairscale Capital LLC bought a new position in shares of Ball in the third quarter worth about $28,000. Finally, Manchester Capital Management LLC raised its stake in shares of Ball by 87.9% in the third quarter. Manchester Capital Management LLC now owns 592 shares of the company’s stock worth $33,000 after buying an additional 277 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Ball News Summary

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating report

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.