Jefferies Group LLC Reaffirms “Buy” Rating for Ball Corporation (NYSE:BLL)

Ball Corporation (NYSE:BLL)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Friday, July 14th. They presently have a $50.00 price objective on the industrial products company’s stock, up from their previous price objective of $47.00. Jefferies Group LLC’s price target points to a potential upside of 21.68% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Ball Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered Ball Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. BidaskClub raised Ball Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $39.50 target price on shares of Ball Corporation in a research report on Wednesday, April 12th. Finally, TheStreet raised Ball Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ball Corporation has a consensus rating of “Hold” and an average target price of $44.28.

Ball Corporation (NYSE BLL) traded down 0.19% during midday trading on Friday, hitting $41.09. The stock had a trading volume of 3,614,112 shares. The company’s 50-day moving average price is $42.05 and its 200 day moving average price is $39.07. Ball Corporation has a 52 week low of $35.65 and a 52 week high of $43.06. The company has a market capitalization of $14.43 billion, a PE ratio of 30.57 and a beta of 0.95.

Ball Corporation (NYSE:BLL) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.02. Ball Corporation had a net margin of 1.70% and a return on equity of 17.54%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $1.05 EPS. The company’s revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that Ball Corporation will post $2.05 EPS for the current year.

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In other news, SVP Lisa Ann Pauley sold 20,960 shares of Ball Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $41.48, for a total value of $869,420.80. Following the completion of the transaction, the senior vice president now directly owns 108,887 shares of the company’s stock, valued at approximately $4,516,632.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Daniel William Fisher sold 1,750 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total value of $73,097.50. Following the completion of the sale, the chief operating officer now directly owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,654 shares of company stock valued at $4,839,833. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Ball Corporation by 2,907.6% in the first quarter. BlackRock Inc. now owns 10,298,454 shares of the industrial products company’s stock worth $764,763,000 after buying an additional 9,956,034 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Ball Corporation by 569.1% in the second quarter. Iridian Asset Management LLC CT now owns 6,257,810 shares of the industrial products company’s stock worth $264,142,000 after buying an additional 5,322,617 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Ball Corporation by 118.9% in the second quarter. William Blair Investment Management LLC now owns 7,644,161 shares of the industrial products company’s stock worth $322,660,000 after buying an additional 4,151,548 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Ball Corporation by 754,449.4% in the second quarter. Bessemer Group Inc. now owns 3,418,109 shares of the industrial products company’s stock worth $144,279,000 after buying an additional 3,417,656 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Ball Corporation during the second quarter worth approximately $110,705,000. 46.59% of the stock is owned by institutional investors and hedge funds.

About Ball Corporation

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.

Analyst Recommendations for Ball Corporation (NYSE:BLL)

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