Ball (NYSE:BALL) Given New $77.00 Price Target at Citigroup

Ball (NYSE:BALL) had its price target raised by investment analysts at Citigroup from $75.00 to $77.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s target price would suggest a potential upside of 15.03% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Wednesday. Weiss Ratings upgraded shares of Ball from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Truist Financial reissued a “buy” rating and issued a $76.00 price objective (down from $78.00) on shares of Ball in a research report on Wednesday. Mizuho upped their price objective on shares of Ball from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Ball from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ball has an average rating of “Moderate Buy” and an average target price of $72.15.

Ball Price Performance

Ball stock traded down $0.44 during mid-day trading on Thursday, hitting $66.94. 3,706,231 shares of the company were exchanged, compared to its average volume of 2,388,830. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.04 and a quick ratio of 0.66. The business’s 50 day simple moving average is $61.27 and its two-hundred day simple moving average is $61.01. The company has a market capitalization of $17.72 billion, a P/E ratio of 33.64, a PEG ratio of 1.29 and a beta of 0.94. Ball has a 12-month low of $46.06 and a 12-month high of $69.57.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. Ball had a return on equity of 18.81% and a net margin of 3.52%. The business’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. Analysts forecast that Ball will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Mandy Glew sold 5,626 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $459,934.20. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Ball

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Ball during the 2nd quarter valued at $1,310,991,000. State Street Corp raised its position in shares of Ball by 8.3% in the 2nd quarter. State Street Corp now owns 13,416,598 shares of the company’s stock worth $837,196,000 after buying an additional 1,024,861 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Ball by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,999,409 shares of the company’s stock worth $354,605,000 after buying an additional 340,677 shares during the period. Deutsche Bank AG acquired a new position in Ball in the second quarter valued at $163,768,000. Finally, Bank of America Corp DE acquired a new position in Ball in the second quarter valued at $160,506,000. Institutional investors and hedge funds own 86.51% of the company’s stock.

Key Stories Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $77 from $73 and reiterated an “outperform” rating, signaling confidence in further upside. Royal Bank of Canada recommendations
• Positive Sentiment: Mizuho raised its target to $75 from $72 with an “outperform” rating. Truist maintained its “buy” rating and a $76 target, though it lowered that target from $78. Mizuho recommendations Truist recommendations
• Positive Sentiment: Ball reported third-quarter EPS of $1.10, above the $1.07 consensus estimate, and revenue of $4.19 billion, up 24% year over year. The results point to resilient packaging demand, although shares reportedly fell before the market opened after the report. Ball Q3 earnings and sales
• Neutral Sentiment: Ball’s earnings call highlighted growth alongside near-term headwinds, leaving investors to weigh the strong results against challenges ahead. Earnings call highlights
• Negative Sentiment: JPMorgan downgraded Ball from “overweight” to “neutral” and set a $65 price target, below the reference price cited in the report. That more cautious view may weigh against the positive analyst revisions. JPMorgan recommendations

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.