Barclays Lowers Ball (NYSE:BALL) Price Target to $61.00

Ball (NYSE:BALL) had its price target reduced by research analysts at Barclays from $72.00 to $61.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 20.89% from the stock’s previous close.

BALL has been the topic of several other research reports. Robert W. Baird cut their price target on Ball from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 target price on shares of Ball in a report on Monday, November 4th. Mizuho upgraded shares of 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 dropped their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their target price on shares of Ball from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities 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 given a strong buy rating to the company. According to MarketBeat, Ball has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Ball Stock Performance

Shares of BALL stock opened at $50.46 on Thursday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 3.81, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. Ball has a 52 week low of $50.44 and a 52 week high of $71.32. The firm has a 50 day moving average of $55.75 and a 200-day moving average of $61.00. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that Ball will post 3.15 earnings per share for the current year.

Ball announced that its Board of Directors has approved a share buyback plan on Wednesday, January 29th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the company to repurchase up to 24.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in shares of Ball during the 3rd quarter worth $30,000. Venturi Wealth Management LLC raised its position in Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock worth $37,000 after acquiring an additional 509 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Ball in the third quarter worth about $47,000. Brooklyn Investment Group bought a new position in shares of Ball during the 3rd quarter valued at approximately $66,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Ball by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after purchasing an additional 228 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.