Citigroup Lowers Ball (NYSE:BALL) Price Target to $59.00

Ball (NYSE:BALL) had its price objective cut by research analysts at Citigroup from $69.00 to $59.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 9.26% from the stock’s current price.

Other analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Ball in a research note on Monday, November 4th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their target price on shares of Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Truist Financial cut their price target on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.08.

Ball Price Performance

Ball stock traded down $0.03 during trading on Monday, reaching $54.00. The company had a trading volume of 2,685,210 shares, compared to its average volume of 2,041,969. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09. The firm’s 50-day simple moving average is $59.16 and its 200 day simple moving average is $62.09. The firm has a market capitalization of $16.12 billion, a PE ratio of 4.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Ball has a 1-year low of $53.85 and a 1-year high of $71.32.

Ball (NYSE:BALL) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities research analysts anticipate that Ball will post 3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BALL. National Bank of Canada FI grew its stake in shares of Ball by 14.7% in the second quarter. National Bank of Canada FI now owns 2,612 shares of the company’s stock worth $155,000 after acquiring an additional 335 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Ball by 27.2% during the second quarter. Private Advisor Group LLC now owns 10,626 shares of the company’s stock worth $638,000 after buying an additional 2,270 shares during the period. Savant Capital LLC raised its holdings in Ball by 2.3% in the second quarter. Savant Capital LLC now owns 14,563 shares of the company’s stock valued at $874,000 after acquiring an additional 326 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Ball in the second quarter worth approximately $384,000. Finally, Oak Thistle LLC acquired a new position in Ball during the 2nd quarter worth approximately $308,000. Institutional investors and hedge funds 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.