Truist Securities Raises Ball (NYSE:BLL) Price Target to $105.00

Ball (NYSE:BLL) had its price target upped by Truist Securities from $100.00 to $105.00 in a research note published on Wednesday, Stock Target Advisor reports. Truist Securities also issued estimates for Ball’s Q1 2022 earnings at $0.74 EPS, Q2 2022 earnings at $0.95 EPS, Q3 2022 earnings at $1.08 EPS, Q4 2022 earnings at $1.18 EPS and FY2024 earnings at $5.25 EPS.

A number of other equities analysts have also weighed in on the company. Truist upped their target price on Ball from $100.00 to $105.00 in a research note on Wednesday. Loop Capital assumed coverage on Ball in a research note on Tuesday, October 5th. They issued a buy rating and a $118.00 target price on the stock. Barclays upped their target price on Ball from $95.00 to $98.00 and gave the stock an equal weight rating in a research note on Monday, September 20th. Mizuho cut their price objective on Ball from $104.00 to $102.00 and set a neutral rating for the company in a report on Friday, November 5th. Finally, Zacks Investment Research cut Ball from a hold rating to a sell rating and set a $96.00 price objective for the company. in a report on Tuesday, November 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $100.82.

NYSE:BLL opened at $90.59 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.70 and a current ratio of 0.97. Ball has a 52-week low of $77.95 and a 52-week high of $98.09. The firm has a market cap of $29.34 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 4.51 and a beta of 0.48. The business’s fifty day moving average is $92.70 and its 200 day moving average is $90.48.

Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, November 4th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.52 billion. Ball had a net margin of 6.10% and a return on equity of 30.98%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities analysts predict that Ball will post 3.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, November 30th. Ball’s dividend payout ratio is presently 32.92%.

In other Ball news, COO Ronald J. Lewis purchased 10,000 shares of the stock in a transaction on Tuesday, November 9th. The stock was acquired at an average price of $91.26 per share, with a total value of $912,600.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Daniel William Fisher purchased 7,000 shares of the stock in a transaction on Wednesday, November 24th. The shares were acquired at an average cost of $93.89 per share, with a total value of $657,230.00. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ball by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,127 shares of the industrial products company’s stock worth $3,332,000 after acquiring an additional 114 shares in the last quarter. Seeyond raised its position in shares of Ball by 0.4% in the 2nd quarter. Seeyond now owns 26,119 shares of the industrial products company’s stock worth $2,116,000 after acquiring an additional 117 shares in the last quarter. Goelzer Investment Management Inc. raised its position in shares of Ball by 0.4% in the 3rd quarter. Goelzer Investment Management Inc. now owns 29,530 shares of the industrial products company’s stock worth $2,657,000 after acquiring an additional 119 shares in the last quarter. Fragasso Group Inc. raised its position in shares of Ball by 1.0% in the 3rd quarter. Fragasso Group Inc. now owns 15,243 shares of the industrial products company’s stock worth $1,371,000 after acquiring an additional 148 shares in the last quarter. Finally, City Holding Co. raised its position in shares of Ball by 18.2% in the 3rd quarter. City Holding Co. now owns 1,007 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 155 shares in the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

Ball Company Profile

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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