Ball (NYSE:BALL) Given New $77.00 Price Target at Royal Bank Of Canada

Ball (NYSE:BALL) had its price target raised by Royal Bank Of Canada from $73.00 to $77.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on BALL. Truist Financial reiterated a “buy” rating and set a $76.00 target price (down from $78.00) on shares of Ball in a report on Wednesday. Weiss Ratings raised Ball from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. cut Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Wednesday. Citigroup downgraded Ball from a “buy” rating to a “reduce” rating in a research report on Wednesday, August 5th. Finally, Bank of America increased their price objective on Ball from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Ball currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.15.

Ball Stock Down 0.7%

BALL stock opened at $66.94 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.04 and a quick ratio of 0.66. The company’s 50 day simple moving average is $61.33 and its 200-day simple moving average is $61.06. Ball has a 12 month low of $46.06 and a 12 month high of $69.57. The firm has a market capitalization of $17.72 billion, a PE ratio of 33.64, a P/E/G ratio of 1.35 and a beta of 0.94.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. Ball had a return on equity of 18.81% and a net margin of 3.52%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $1.02 EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities analysts expect that Ball will post 4.00 earnings per share for the current fiscal year.

Ball Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Ball’s dividend payout ratio is presently 40.20%.

Insider Buying and Selling at Ball

In related news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $63.80, for a total value 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. This trade represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Ball

A number of institutional investors have recently added to or reduced their stakes in BALL. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Ball during the third quarter worth about $25,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Ball by 135.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Ancora Advisors LLC purchased a new position in Ball in the second quarter valued at about $30,000. Fairscale Capital LLC purchased a new position in Ball in the third quarter valued at about $28,000. Finally, Manchester Capital Management LLC grew its stake in Ball by 87.9% during the 3rd quarter. Manchester Capital Management LLC now owns 592 shares of the company’s stock valued at $33,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Key Headlines Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating, implying about 15% upside from $66.94. Citigroup recommendations
• Positive Sentiment: RBC lifted its target to $77 from $73 and reiterated Outperform, also signaling roughly 15% potential upside. RBC recommendations
• Positive Sentiment: Mizuho raised its target to $75 from $72 and assigned an Outperform rating. Mizuho recommendations
• Positive Sentiment: Ball reported quarterly EPS of $1.10, above the $1.07 consensus, and revenue of $4.19 billion versus estimates of $3.78 billion. Revenue rose 23.9% year over year, although shares fell in premarket trading after the results. Ball Q3 earnings coverage
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating. Truist reaffirmed Buy while trimming its target to $76 from $78. UBS recommendations Truist recommendations
• Negative Sentiment: JPMorgan downgraded Ball from Overweight to Neutral and set a $65 target, below the cited $66.94 share price—one of the clearest near-term bearish signals. JPMorgan downgrade report

Ball Company Profile

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.