Ball (NYSE:BALL) Price Target Cut to $66.00 by Analysts at Royal Bank of Canada

Ball (NYSE:BALL) had its target price lowered by research analysts at Royal Bank of Canada from $75.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 28.36% from the stock’s previous close.

Several other brokerages also recently issued reports on BALL. Morgan Stanley lowered their price target on Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Ball from $72.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Tuesday, December 10th. Citigroup reduced their target price on shares of Ball from $69.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Truist Financial lowered their target price on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Ball Trading Up 0.4 %

BALL traded up $0.23 during midday trading on Thursday, reaching $51.42. 980,506 shares of the company were exchanged, compared to its average volume of 2,613,945. 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 stock has a market capitalization of $15.34 billion, a P/E ratio of 3.88, a PEG ratio of 1.39 and a beta of 0.94. The stock’s 50-day simple moving average is $55.98 and its 200 day simple moving average is $61.07. Ball has a one year low of $50.76 and a one year high of $71.32.

Ball (NYSE:BALL) last issued its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. As a group, analysts forecast that Ball will post 3.15 earnings per share for the current fiscal year.

Ball declared that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the company to repurchase up to 24.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Ball

A number of institutional investors and hedge funds have recently modified their holdings of BALL. Peterson Financial Group Inc. acquired a new position in shares of Ball in the third quarter valued at $30,000. Venturi Wealth Management LLC boosted its holdings in shares of Ball by 328.4% during the 4th quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock worth $37,000 after buying an additional 509 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Ball in the 3rd quarter valued at about $47,000. Brooklyn Investment Group acquired a new position in Ball in the 3rd quarter valued at about $66,000. Finally, Farther Finance Advisors LLC raised its holdings in Ball by 29.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after acquiring an additional 228 shares during the period. 86.51% of the stock is owned by institutional investors.

About Ball

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.