Ball (NYSE:BALL) PT Raised to $67.00

Ball (NYSE:BALL) had its price objective hoisted by equities researchers at Truist Financial from $60.00 to $67.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential downside of 3.69% from the company’s current price.

Several other research firms have also recently issued reports on BALL. Bank of America raised shares of Ball from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $61.00 to $72.00 in a research report on Monday, March 4th. Morgan Stanley began coverage on shares of Ball in a research report on Monday, March 18th. They issued an “equal weight” rating and a $68.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Ball from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, March 18th. Mizuho boosted their price objective on shares of Ball from $63.00 to $69.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Jefferies Financial Group boosted their price objective on shares of Ball from $69.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.08.

Ball Price Performance

Ball stock opened at $69.57 on Monday. The firm has a 50-day moving average price of $65.45 and a 200-day moving average price of $58.48. The firm has a market capitalization of $21.96 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 4.51 and a beta of 0.89. The company has a current ratio of 1.21, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75. Ball has a 12-month low of $42.81 and a 12-month high of $71.32.

Ball (NYSE:BALL) last released its earnings results on Friday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $3.23 billion. Ball had a net margin of 31.42% and a return on equity of 21.79%. The business’s revenue was down 17.6% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. As a group, equities research analysts forecast that Ball will post 3.09 EPS for the current year.

Ball declared that its board has approved a stock repurchase program on Wednesday, April 24th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Daniel William Fisher acquired 3,869 shares of Ball stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $64.56 per share, for a total transaction of $249,782.64. Following the purchase, the insider now directly owns 111,866 shares in the company, valued at approximately $7,222,068.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its stake in Ball by 80.4% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 572 shares of the company’s stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. NBC Securities Inc. acquired a new position in Ball during the 3rd quarter valued at approximately $29,000. Exchange Traded Concepts LLC acquired a new position in Ball during the 3rd quarter valued at approximately $31,000. Friedenthal Financial acquired a new position in Ball during the 4th quarter valued at approximately $43,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Ball during the 4th quarter valued at approximately $43,000. 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.