Ball’s (BALL) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Ball (NYSE:BALL) in a research note released on Monday, Benzinga reports. They currently have a $75.00 price target on the stock.

A number of other brokerages have also recently commented on BALL. UBS Group upped their price target on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Mizuho cut their target price on shares of Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday. Baird R W raised shares of Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $69.00 to $78.00 in a research report on Wednesday, September 4th. Finally, Truist Financial reiterated a “buy” rating and set a $78.00 target price (up from $76.00) on shares of Ball in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Trading Up 0.5 %

Shares of NYSE BALL opened at $60.27 on Monday. Ball has a fifty-two week low of $48.05 and a fifty-two week high of $71.32. The firm has a market capitalization of $17.99 billion, a P/E ratio of 4.55, a P/E/G ratio of 1.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The company’s 50 day simple moving average is $65.00 and its 200 day simple moving average is $64.96.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts predict that Ball will post 3.13 EPS for the current year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, December 2nd. Ball’s payout ratio is 6.03%.

Hedge Funds Weigh In On Ball

A number of large investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of Ball by 0.9% in the second quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock worth $1,137,000 after purchasing an additional 162 shares in the last quarter. Fifth Third Bancorp lifted its position in Ball by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock worth $525,000 after buying an additional 174 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in Ball by 17.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after buying an additional 186 shares in the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Ball by 0.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,115 shares of the company’s stock worth $3,106,000 after buying an additional 200 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Ball by 3.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 6,132 shares of the company’s stock valued at $413,000 after acquiring an additional 210 shares in the last quarter. 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.