Ball (NYSE:BALL) Stock Price Target Raised at Royal Bank Of Canada

Ball (NYSE:BALL) had its price target upped by equities researchers at Royal Bank Of Canada from $73.00 to $77.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 15.56% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Wednesday. Truist Financial restated a “buy” rating and issued a $76.00 price objective (down from $78.00) on shares of Ball in a report on Wednesday. Bank of America lifted their target price on Ball from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Mizuho upped their target price on Ball from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, UBS Group increased their price target on Ball from $63.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ball currently has a consensus rating of “Moderate Buy” and an average price target of $71.77.

Ball Stock Down 1.1%

Shares of BALL traded down $0.75 during mid-day trading on Thursday, hitting $66.63. 1,816,636 shares of the company’s stock were exchanged, compared to its average volume of 2,379,409. The company has a market cap of $17.64 billion, a PE ratio of 33.39, a P/E/G ratio of 1.29 and a beta of 0.94. Ball has a 52 week low of $46.06 and a 52 week high of $69.57. The company has a 50-day simple moving average of $61.27 and a 200 day simple moving average of $61.01. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.04 and a quick ratio of 0.66.

Ball (NYSE:BALL) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. Ball had a net margin of 3.52% and a return on equity of 18.81%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. On average, research analysts forecast that Ball will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Ball

In related news, SVP Mandy Glew sold 5,626 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total transaction of $358,938.80. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $459,934.20. The trade was a 43.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Keybank National Association OH boosted its stake in Ball by 3.4% in the 3rd quarter. Keybank National Association OH now owns 55,281 shares of the company’s stock valued at $3,097,000 after purchasing an additional 1,832 shares during the period. New York Life Investment Management LLC grew its position in Ball by 65.9% during the third quarter. New York Life Investment Management LLC now owns 119,558 shares of the company’s stock worth $6,699,000 after buying an additional 47,497 shares in the last quarter. Fairscale Capital LLC bought a new position in Ball during the 3rd quarter worth $28,000. AlphaCore Capital LLC raised its holdings in Ball by 58.8% in the 3rd quarter. AlphaCore Capital LLC now owns 8,816 shares of the company’s stock valued at $494,000 after acquiring an additional 3,264 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Ball by 117.5% during the 3rd quarter. Retirement Systems of Alabama now owns 121,674 shares of the company’s stock valued at $6,817,000 after acquiring an additional 65,742 shares during the period. 86.51% of the stock is owned by institutional investors.

Key Headlines Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Ball reported third-quarter EPS of $1.10, above the $1.07 consensus, and revenue of $4.19 billion, up 23.9% year over year and ahead of estimates. Packaging volumes also rose, supporting the company’s growth outlook. Ball Q3 comparable earnings and net sales rise
• Positive Sentiment: Mizuho raised its target to $75 and reiterated an outperform rating. Truist maintained its buy rating with a $76 target, though it lowered that target from $78. Mizuho rating information Truist rating information
• Neutral Sentiment: UBS lifted its price target from $63 to $68 but kept a neutral rating. The reported analyst consensus target is $71.46, indicating differing views on the shares. UBS rating information
• Negative Sentiment: JPMorgan cut Ball from overweight to neutral and set a $65 target, below the share price cited in the report. That downgrade, alongside reports that shares fell after the earnings release, may have weighed on sentiment despite the earnings beat. JPMorgan rating information

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.