Ball Corporation (NYSE:BLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Ball Corporation witnessed a sluggish first-quarter 2015 results due to foreign currency translation and higher metal premiums in Europe. The company remains concerned for the food and household segment throughout 2015 related to the customer shift. Ball Corporation expects metal premiums, adverse currency translation and startup costs will persist as headwinds in 2015. Moreover pricing pressure in China, weak demand in Brazil and modest pressure in the U.S. food can market will affect the company's results.”
A number of other research analysts also recently commented on the company. ValuEngine downgraded Ball Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of Ball Corporation in a research note on Sunday, June 25th. BidaskClub upgraded Ball Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. BMO Capital Markets restated a “hold” rating and set a $39.50 price objective on shares of Ball Corporation in a research note on Wednesday, April 12th. Finally, TheStreet upgraded Ball Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 4th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ball Corporation has an average rating of “Hold” and a consensus price target of $43.90.
Ball Corporation (BLL) opened at 42.53 on Thursday. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 31.64 and a beta of 0.96. Ball Corporation has a 12 month low of $34.34 and a 12 month high of $42.87. The stock’s 50 day moving average is $41.69 and its 200-day moving average is $64.21.
Ball Corporation (NYSE:BLL) last posted its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.41 billion. Ball Corporation had a return on equity of 16.46% and a net margin of 4.59%. The business’s revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, equities research analysts expect that Ball Corporation will post $2.15 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers Ball Corporation (NYSE:BLL) to Hold” was originally published by BBNS and is owned by of BBNS. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://baseballnewssource.com/markets/zacks-investment-research-lowers-ball-corporation-nysebll-to-hold/1234921.html.
In other news, Chairman John A. Hayes sold 2,717 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $80.62, for a total value of $219,044.54. Following the completion of the sale, the chairman now owns 206,255 shares in the company, valued at $16,628,278.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Daniel William Fisher sold 1,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $79.75, for a total value of $79,750.00. Following the completion of the sale, the chief operating officer now owns 4,922 shares of the company’s stock, valued at approximately $392,529.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,732 shares of company stock valued at $3,309,230. Insiders own 2.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Pinnacle Bank bought a new stake in shares of Ball Corporation during the first quarter valued at approximately $126,000. CWM LLC bought a new stake in shares of Ball Corporation during the first quarter valued at approximately $4,529,000. Bank of Montreal Can increased its stake in shares of Ball Corporation by 39.4% in the first quarter. Bank of Montreal Can now owns 158,111 shares of the industrial products company’s stock valued at $11,741,000 after buying an additional 44,669 shares in the last quarter. National Pension Service increased its stake in shares of Ball Corporation by 29.3% in the first quarter. National Pension Service now owns 156,093 shares of the industrial products company’s stock valued at $11,492,000 after buying an additional 35,361 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Ball Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 50,756 shares of the industrial products company’s stock valued at $3,769,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 43.61% of the company’s stock.
Ball Corporation Company Profile
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.
Receive News & Ratings for Ball Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball Corporation and related companies with our FREE daily email newsletter.