Ball Corp. (BLL) Rating Reiterated by Bank of America Corp.
Ball Corp. (NYSE:BLL)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corp. in a report issued on Thursday. They currently have a $90.00 target price on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 9.82% from the company’s current price.
Other analysts have also recently issued reports about the company. TheStreet upgraded Ball Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Jefferies Group increased their target price on Ball Corp. from $86.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Ball Corp. in a report on Saturday, July 9th. Barclays PLC initiated coverage on Ball Corp. in a report on Thursday, July 14th. They set an “equal weight” rating and a $75.00 target price on the stock. Finally, Vertical Group cut Ball Corp. to a “hold” rating in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $84.00.
Shares of Ball Corp. (NYSE:BLL) opened at 81.95 on Thursday. Ball Corp. has a 12-month low of $62.30 and a 12-month high of $82.24. The firm’s 50-day moving average price is $79.57 and its 200 day moving average price is $74.07. The firm has a market cap of $14.28 billion, a P/E ratio of 37.76 and a beta of 1.11.
Ball Corp. (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Ball Corp. had a return on equity of 27.28% and a net margin of 4.45%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. On average, equities analysts expect that Ball Corp. will post $3.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, August 30th. Ball Corp.’s payout ratio is 22.13%.
In related news, Chairman John A. Hayes bought 2,400 shares of the business’s stock in a transaction on Monday, August 8th. The shares were purchased at an average price of $79.31 per share, with a total value of $190,344.00. Following the completion of the purchase, the chairman now owns 178,620 shares of the company’s stock, valued at approximately $14,166,352.20. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Heinrich bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $80.73 per share, for a total transaction of $242,190.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,190. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC bought a new position in Ball Corp. during the second quarter valued at $1,157,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Ball Corp. during the second quarter valued at $414,000. Kentucky Retirement Systems bought a new position in Ball Corp. during the second quarter valued at $872,000. Northwestern Mutual Investment Management Company LLC raised its position in Ball Corp. by 22.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,607 shares of the company’s stock valued at $478,000 after buying an additional 1,197 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new position in Ball Corp. during the second quarter valued at $1,694,000. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
About Ball Corp.
Ball Corporation (Ball) 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. The Company operates in four segments: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies.
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