Ball (NYSE:BALL) Price Target Cut to $58.00 by Analysts at Truist Financial

Ball (NYSE:BALL) had its target price lowered by analysts at Truist Financial from $65.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 19.57% from the stock’s previous close.

Several other analysts have also recently issued reports on BALL. Robert W. Baird cut their target price on Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada lowered their price target on shares of Ball from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citigroup dropped their target price on Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Mizuho cut their price target on shares of Ball from $63.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group lowered their target price on shares of Ball from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.80.

Ball Trading Up 2.6 %

NYSE BALL traded up $1.21 during trading on Tuesday, hitting $48.51. 717,585 shares of the company’s stock traded hands, compared to its average volume of 2,114,634. The firm has a market cap of $13.70 billion, a P/E ratio of 3.83, a PEG ratio of 1.24 and a beta of 1.01. The stock has a fifty day moving average of $50.23 and a two-hundred day moving average of $55.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 0.69. Ball has a 12-month low of $43.51 and a 12-month high of $71.32.

Ball (NYSE:BALL) last issued its earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Ball will post 3.48 EPS for the current year.

Ball announced that its board has initiated a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 24.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Ball

A number of institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management grew its position in Ball by 68.9% in the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Ball by 328.4% during the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock valued at $37,000 after purchasing an additional 509 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Ball by 764.9% in the 1st quarter. Whipplewood Advisors LLC now owns 813 shares of the company’s stock worth $42,000 after buying an additional 719 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Ball during the 4th quarter valued at $70,000. Finally, Hager Investment Management Services LLC acquired a new stake in Ball in the fourth quarter worth about $76,000. 86.51% of the stock is currently owned by institutional investors.

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.