Ball (NYSE:BALL) Price Target Cut to $56.00 by Analysts at Wells Fargo & Company

Ball (NYSE:BALL) had its price target trimmed by Wells Fargo & Company from $61.00 to $56.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on BALL. Citigroup upped their price objective on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective on shares of Ball in a report on Monday, November 4th. Finally, Truist Financial cut their target price on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ball has an average rating of “Moderate Buy” and an average target price of $69.08.

Ball Trading Down 0.4 %

BALL opened at $53.49 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The company’s 50 day simple moving average is $58.54 and its two-hundred day simple moving average is $61.93. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 4.03, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Ball has a 1-year low of $52.97 and a 1-year high of $71.32.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. Analysts expect that Ball will post 3.15 EPS for the current fiscal year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, December 2nd. Ball’s dividend payout ratio is currently 6.03%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BALL. Federated Hermes Inc. lifted its holdings in Ball by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock worth $1,137,000 after buying an additional 162 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Ball by 4.5% in the third quarter. Moors & Cabot Inc. now owns 4,442 shares of the company’s stock valued at $302,000 after purchasing an additional 192 shares during the period. Advisors Asset Management Inc. boosted its holdings in Ball by 1.2% in the third quarter. Advisors Asset Management Inc. now owns 16,895 shares of the company’s stock valued at $1,147,000 after purchasing an additional 199 shares during the period. Opal Wealth Advisors LLC grew its stake in Ball by 7.6% during the 3rd quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock worth $206,000 after purchasing an additional 215 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Ball by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 10,969 shares of the company’s stock worth $745,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors 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.