Ball (NYSE:BALL) Price Target Raised to $63.00

Ball (NYSE:BALL) had its target price upped by Royal Bank of Canada from $62.00 to $63.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 20.74% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Morgan Stanley cut their price objective on Ball from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group reduced their price objective on Ball from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Mizuho lowered their target price on shares of Ball from $63.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Truist Financial dropped their target price on shares of Ball from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Barclays decreased 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, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.40.

Ball Stock Performance

Shares of BALL opened at $52.18 on Thursday. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of 4.12, a PEG ratio of 1.24 and a beta of 1.10. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $50.26 and its two-hundred day moving average is $54.33. Ball has a 52-week low of $43.51 and a 52-week high of $70.97.

Ball (NYSE:BALL) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.91 billion. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. Analysts forecast that Ball will post 3.48 EPS for the current fiscal year.

Ball announced that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 24.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management raised its stake in shares of Ball by 68.9% during the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Ball in the 1st quarter worth approximately $32,000. Venturi Wealth Management LLC boosted its holdings in shares of Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock valued at $37,000 after acquiring an additional 509 shares in the last quarter. Whipplewood Advisors LLC increased its stake in shares of Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company’s stock valued at $42,000 after acquiring an additional 719 shares during the period. Finally, Federated Hermes Inc. lifted its position in Ball by 40.4% in the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company’s stock worth $68,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

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.