Royal Bank of Canada Trims Ball (NYSE:BALL) Target Price to $75.00

Ball (NYSE:BALL) had its target price reduced by analysts at Royal Bank of Canada from $77.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.06% from the stock’s current price.

Several other equities research analysts have also recently issued reports on BALL. Citigroup raised their target price on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Ball from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday. UBS Group increased their target price on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ball currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.08.

Ball Stock Down 0.5 %

Shares of BALL traded down $0.36 during trading hours on Thursday, hitting $66.93. The company had a trading volume of 636,513 shares, compared to its average volume of 1,800,862. Ball has a 52-week low of $42.81 and a 52-week high of $71.32. The firm has a fifty day moving average price of $64.93 and a 200-day moving average price of $65.20. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 5.05, a P/E/G ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.18.

Ball (NYSE:BALL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. On average, equities research analysts forecast that Ball will post 3.12 EPS for the current fiscal year.

Institutional Trading of Ball

A number of large investors have recently made changes to their positions in the business. Independence Bank of Kentucky purchased a new position in Ball during the first quarter worth $47,000. Friedenthal Financial bought a new position in Ball during the 2nd quarter valued at about $47,000. Quarry LP raised its position in Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Ball by 334.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after purchasing an additional 815 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Ball during the second quarter valued at approximately $72,000. 86.51% of the stock is currently owned by institutional investors.

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.