Royal Bank of Canada Increases Ball (NYSE:BALL) Price Target to $82.00

Ball (NYSE:BALL) had its price target lifted by stock analysts at Royal Bank of Canada from $74.00 to $82.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 17.87% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Robert W. Baird upped their price target on Ball from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday. TheStreet upgraded Ball from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. Mizuho upped their price target on Ball from $63.00 to $69.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial upped their price target on Ball from $60.00 to $67.00 and gave the company a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price objective on Ball from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ball presently has an average rating of “Hold” and an average target price of $68.08.

Ball Trading Down 1.6 %

Shares of BALL opened at $69.57 on Monday. The firm has a market cap of $21.96 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 4.51 and a beta of 0.89. Ball has a 52-week low of $42.81 and a 52-week high of $71.32. 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 business’s fifty day moving average is $65.45 and its 200-day moving average is $58.48.

Ball (NYSE:BALL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $3.23 billion. Ball had a return on equity of 21.79% and a net margin of 31.42%. Ball’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Equities analysts anticipate that Ball will post 3.09 EPS for the current fiscal year.

Ball declared that its board has initiated a stock repurchase plan on Wednesday, April 24th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Ball news, insider Daniel William Fisher bought 3,869 shares of Ball stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $64.56 per share, with a total value of $249,782.64. Following the completion of the acquisition, the insider now directly owns 111,866 shares in the company, valued at approximately $7,222,068.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ball

Several institutional investors have recently modified their holdings of the business. Jag Capital Management LLC grew its holdings in Ball by 0.7% during the fourth quarter. Jag Capital Management LLC now owns 25,562 shares of the company’s stock valued at $1,470,000 after purchasing an additional 169 shares during the period. State of Alaska Department of Revenue grew its holdings in Ball by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 34,206 shares of the company’s stock valued at $2,304,000 after purchasing an additional 175 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in Ball by 0.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 26,470 shares of the company’s stock valued at $1,783,000 after purchasing an additional 179 shares during the period. NBC Securities Inc. grew its holdings in Ball by 31.0% during the fourth quarter. NBC Securities Inc. now owns 769 shares of the company’s stock valued at $44,000 after purchasing an additional 182 shares during the period. Finally, Greenleaf Trust grew its holdings in Ball by 0.9% during the first quarter. Greenleaf Trust now owns 22,581 shares of the company’s stock valued at $1,521,000 after purchasing an additional 193 shares during the period. 86.51% of the stock is owned by 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.