Ball Corporation (BLL) Coverage Initiated by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Ball Corporation (NYSE:BLL) in a report published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $46.00 price objective on the industrial products company’s stock.

Several other research analysts have also issued reports on BLL. Jefferies Group LLC restated a buy rating and set a $47.00 price target on shares of Ball Corporation in a report on Sunday, June 25th. BidaskClub upgraded shares of Ball Corporation from a hold rating to a buy rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Ball Corporation from a hold rating to a buy rating and set a $47.00 price target for the company in a report on Tuesday, July 4th. Deutsche Bank AG restated a buy rating and set a $47.00 price target (up previously from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Finally, Barclays PLC raised their price target on shares of Ball Corporation from $40.00 to $42.00 and gave the stock an equal weight rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $44.23.

Ball Corporation (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, August 30th. Ball Corporation’s dividend payout ratio is 78.43%.

In other news, VP Scott C. Morrison sold 13,249 shares of Ball Corporation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $40.35, for a total transaction of $534,597.15. Following the sale, the vice president now directly owns 392,091 shares in the company, valued at approximately $15,820,871.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John A. Hayes sold 5,619 shares of Ball Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $41.98, for a total value of $235,885.62. The disclosure for this sale can be found here. Insiders have sold a total of 129,601 shares of company stock worth $5,260,953 over the last ninety days. Insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Ball Corporation by 100.0% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,450 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 1,225 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Ball Corporation by 5,297.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,483 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 2,437 shares during the period. American Research & Management Co. raised its stake in shares of Ball Corporation by 100.0% during the 2nd quarter. American Research & Management Co. now owns 2,800 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 1,400 shares during the period. Korea Investment CORP raised its stake in shares of Ball Corporation by 385.5% during the 2nd quarter. Korea Investment CORP now owns 3,083 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 2,448 shares during the period. Finally, Ledyard National Bank raised its stake in shares of Ball Corporation by 520.0% during the 2nd quarter. Ledyard National Bank now owns 3,100 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 86.43% of the company’s stock.

About Ball Corporation

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.

Analyst Recommendations for Ball Corporation (NYSE:BLL)

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