Ball (NYSE:BALL) PT Raised to $63.00 at Wells Fargo & Company

Ball (NYSE:BALL) had its price objective raised by analysts at Wells Fargo & Company from $61.00 to $63.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 6.38% from the stock’s previous close.

A number of other research firms have also commented on BALL. Citigroup upped their price target on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on shares of Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.25.

Ball Price Performance

Ball stock opened at $67.29 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. Ball has a 52 week low of $42.81 and a 52 week high of $71.32. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 1.63 and a beta of 0.88. The business has a 50-day simple moving average of $64.93 and a 200 day simple moving average of $65.20.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, research analysts forecast that Ball will post 3.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ball

A number of institutional investors have recently added to or reduced their stakes in BALL. Vanguard Group Inc. raised its stake in shares of Ball by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 35,855,312 shares of the company’s stock valued at $2,415,214,000 after buying an additional 267,479 shares during the last quarter. Boston Partners raised its holdings in shares of Ball by 114.1% during the 1st quarter. Boston Partners now owns 4,057,645 shares of the company’s stock worth $273,347,000 after acquiring an additional 2,162,167 shares during the period. Mirova US LLC boosted its position in shares of Ball by 0.5% during the 2nd quarter. Mirova US LLC now owns 2,495,497 shares of the company’s stock valued at $149,780,000 after acquiring an additional 13,320 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ball by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,414,615 shares of the company’s stock worth $144,951,000 after acquiring an additional 171,924 shares during the period. Finally, Raymond James & Associates raised its holdings in Ball by 17.5% in the 2nd quarter. Raymond James & Associates now owns 1,621,553 shares of the company’s stock valued at $97,326,000 after buying an additional 241,502 shares during the period. Institutional investors 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.