Ball (NYSE:BALL) Price Target Raised to $75.00

Ball (NYSE:BALL) had its price target hoisted by Mizuho from $72.00 to $75.00 in a research report released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

BALL has been the topic of several other research reports. Truist Financial set a $78.00 target price on Ball in a research note on Wednesday, August 5th. UBS Group decreased their price target on shares of Ball from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Citigroup cut shares of Ball from a “buy” rating to a “reduce” rating in a report on Wednesday, August 5th. Wells Fargo & Company cut their price objective on shares of Ball from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Bank of America boosted their price objective on shares of Ball from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.15.

Ball Stock Down 1.5%

Shares of BALL stock traded down $1.03 during mid-day trading on Wednesday, hitting $65.88. The stock had a trading volume of 2,571,933 shares, compared to its average volume of 2,401,678. Ball has a 12-month low of $46.06 and a 12-month high of $69.57. The firm has a market capitalization of $17.44 billion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. The firm’s 50-day moving average is $61.38 and its two-hundred day moving average is $61.11. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 0.66.

Ball (NYSE:BALL) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.78 billion. Ball had a return on equity of 18.76% and a net margin of 6.61%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. On average, analysts predict that Ball will post 4.00 earnings per share for the current fiscal year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. Ball’s dividend payout ratio (DPR) is 40.20%.

Insider Buying and Selling

In other Ball news, SVP Mandy Glew sold 5,626 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total transaction of $358,938.80. Following the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $459,934.20. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ball

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Ball by 8.3% in the second quarter. State Street Corp now owns 13,416,598 shares of the company’s stock worth $837,196,000 after purchasing an additional 1,024,861 shares during the last quarter. Bank of America Corp DE purchased a new stake in Ball in the second quarter valued at approximately $160,506,000. Hsbc Holdings PLC purchased a new stake in Ball in the second quarter valued at approximately $96,380,000. IFP Advisors Inc increased its holdings in Ball by 3,687.6% in the 3rd quarter. IFP Advisors Inc now owns 72,760 shares of the company’s stock worth $4,077,000 after buying an additional 70,839 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in Ball by 90.7% in the 2nd quarter. Engineers Gate Manager LP now owns 81,799 shares of the company’s stock worth $5,104,000 after buying an additional 38,896 shares during the period. 86.51% of the stock is currently owned by institutional investors and hedge funds.

Key Ball News

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; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating 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.