Ball (NYSE:BALL) Price Target Raised to $63.00 at Wells Fargo & Company

Ball (NYSE:BALL) had its price target raised by Wells Fargo & Company from $61.00 to $63.00 in a research report sent to investors on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

BALL has been the subject of several other reports. Royal Bank of Canada lowered their target price on Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. Citigroup raised their target price on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and set a $78.00 price target (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. Finally, UBS Group increased their price objective on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. 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. According to data from MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and an average price target of $71.08.

Ball Stock Down 0.7 %

Shares of BALL opened at $66.81 on Tuesday. The company’s 50-day simple moving average is $65.00 and its 200-day simple moving average is $65.21. 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 has a 1 year low of $42.81 and a 1 year high of $71.32. The stock has a market capitalization of $20.74 billion, a PE ratio of 5.03, a P/E/G ratio of 1.63 and a beta of 0.88.

Ball (NYSE:BALL) last released its earnings results on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. Analysts forecast that Ball will post 3.12 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ball’s dividend payout ratio (DPR) is 6.02%.

Institutional Investors Weigh In On Ball

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jessup Wealth Management Inc purchased a new position in shares of Ball during the first quarter worth about $7,479,000. TD Asset Management Inc grew its stake in Ball by 4.2% during the 1st quarter. TD Asset Management Inc now owns 1,453,639 shares of the company’s stock worth $97,917,000 after buying an additional 58,863 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Ball during the first quarter worth approximately $1,973,000. QRG Capital Management Inc. increased its position in Ball by 306.6% during the second quarter. QRG Capital Management Inc. now owns 31,750 shares of the company’s stock worth $1,906,000 after buying an additional 23,941 shares during the period. Finally, Addenda Capital Inc. lifted its stake in Ball by 7.3% in the second quarter. Addenda Capital Inc. now owns 153,464 shares of the company’s stock valued at $9,211,000 after buying an additional 10,427 shares during the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

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.