Ball (NYSE:BALL) Price Target Raised to $67.00 at Truist Financial

Ball (NYSE:BALL) had its price objective boosted by Truist Financial from $60.00 to $67.00 in a research note published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued reports about the company. Wolfe Research initiated coverage on Ball in a report on Friday, March 1st. They set a peer perform rating on the stock. Citigroup initiated coverage on Ball in a research note on Wednesday, March 27th. They set a neutral rating and a $70.00 price objective on the stock. Wells Fargo & Company raised their target price on Ball from $52.00 to $62.00 and gave the stock an equal weight rating in a research note on Monday, March 18th. Bank of America raised shares of Ball from an underperform rating to a buy rating and boosted their price target for the company from $61.00 to $72.00 in a research report on Monday, March 4th. Finally, Morgan Stanley began coverage on shares of Ball in a research note on Monday, March 18th. They set an equal weight rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $68.08.

Ball Stock Performance

NYSE:BALL opened at $70.72 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.21. The stock has a market capitalization of $22.32 billion, a PE ratio of 5.32, a P/E/G ratio of 4.51 and a beta of 0.89. Ball has a fifty-two week low of $42.81 and a fifty-two week high of $70.82. The company has a fifty day moving average of $65.29 and a two-hundred day moving average of $58.30.

Ball (NYSE:BALL) last posted its quarterly earnings data 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. Ball had a return on equity of 21.79% and a net margin of 31.42%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the firm posted $0.69 EPS. Ball’s revenue was down 17.6% compared to the same quarter last year. As a group, research analysts forecast that Ball will post 3.09 earnings per share for the current fiscal year.

Ball announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 24th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. Ball’s dividend payout ratio is presently 6.02%.

Insider Activity at Ball

In other news, insider Daniel William Fisher bought 3,869 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $64.56 per share, with a total value of $249,782.64. Following the transaction, the insider now directly owns 111,866 shares in the company, valued at $7,222,068.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ball

Institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its holdings in shares of Ball by 80.4% in the third quarter. Deseret Mutual Benefit Administrators now owns 572 shares of the company’s stock valued at $28,000 after acquiring an additional 255 shares in the last quarter. NBC Securities Inc. purchased a new stake in Ball in the 3rd quarter valued at approximately $29,000. Exchange Traded Concepts LLC acquired a new position in Ball during the 3rd quarter worth approximately $31,000. Independence Bank of Kentucky acquired a new position in Ball during the 1st quarter worth approximately $47,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Ball during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds 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.