Ball (NYSE:BALL) Price Target Cut to $56.00 by Analysts at Wells Fargo & Company

Ball (NYSE:BALL) had its price objective lowered by Wells Fargo & Company from $61.00 to $56.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Ball in a research report on Monday, November 4th. Truist Financial decreased their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Citigroup boosted their target price on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ball has a consensus rating of “Moderate Buy” and a consensus price target of $69.08.

Ball Stock Performance

Shares of Ball stock opened at $54.00 on Monday. The company has a market capitalization of $16.12 billion, a PE ratio of 4.07, a P/E/G ratio of 1.44 and a beta of 0.93. The company has a 50-day simple moving average of $58.95 and a two-hundred day simple moving average of $62.04. Ball has a one year low of $53.85 and a one year high of $71.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. Ball’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts expect that Ball will post 3.15 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, December 2nd. Ball’s payout ratio is presently 6.03%.

Institutional Investors Weigh In On Ball

Hedge funds and other institutional investors have recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in Ball during the third quarter worth $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Ball during the 3rd quarter worth about $47,000. Quarry LP grew its position in shares of Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after acquiring an additional 856 shares during the period. Brooklyn Investment Group purchased a new position in shares of Ball in the 3rd quarter valued at about $66,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Ball by 334.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after purchasing an additional 815 shares during the period. 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.