Ball (NYSE:BALL) Earns “Underweight” Rating from Wells Fargo & Company

Ball (NYSE:BALL)‘s stock had its “underweight” rating reissued by analysts at Wells Fargo & Company in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $49.00 target price on the stock, down from their previous target price of $56.00. Wells Fargo & Company‘s target price indicates a potential downside of 9.81% from the stock’s previous close.

Several other equities research analysts have also recently commented on BALL. Mizuho upgraded Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a research note on Tuesday, December 10th. Truist Financial reduced their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price target on shares of Ball in a research note on Monday, November 4th. UBS Group upgraded shares of Ball from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $62.00 to $58.00 in a research report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on Ball from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ball presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.17.

Ball Trading Up 0.1 %

Shares of Ball stock opened at $54.33 on Thursday. The company’s fifty day moving average is $57.81 and its two-hundred day moving average is $61.62. Ball has a 1 year low of $51.96 and a 1 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. The company has a market capitalization of $16.21 billion, a P/E ratio of 4.10, a PEG ratio of 1.24 and a beta of 0.93.

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

Institutional Inflows and Outflows

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