Citigroup Increases Ball (NYSE:BALL) Price Target to $69.00

by · The Cerbat Gem

Ball (NYSE:BALL – Free Report) had its price target upped by Citigroup from $66.00 to $69.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the company. Baird R W upgraded Ball from a hold rating to a strong-buy rating in a research report on Wednesday, August 14th. Royal Bank of Canada lowered their price target on Ball from $80.00 to $77.00 and set an outperform rating for the company in a report on Monday, August 5th. Robert W. Baird upgraded shares of Ball from a neutral rating to an outperform rating and set a $70.00 price objective on the stock in a report on Wednesday, August 14th. Truist Financial reaffirmed a buy rating and issued a $78.00 target price (up previously from $76.00) on shares of Ball in a research report on Friday, August 2nd. Finally, Morgan Stanley upgraded shares of Ball from an equal weight rating to an overweight rating and lifted their price target for the company from $69.00 to $78.00 in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $71.08.

Get Our Latest Research Report on BALL

Ball Stock Up 1.0 %

NYSE BALL opened at $66.02 on Wednesday. The business’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $65.28. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. The firm has a market cap of $20.49 billion, a PE ratio of 4.97, a P/E/G ratio of 1.70 and a beta of 0.88. Ball has a 52 week low of $42.81 and a 52 week high of $71.32.

Ball (NYSE:BALL – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Ball had a net margin of 32.79% and a return on equity of 19.45%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Ball’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ball will post 3.12 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ball’s payout ratio is currently 6.02%.

Hedge Funds Weigh In On Ball

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BALL. Boston Partners boosted its holdings in Ball by 114.1% in the first quarter. Boston Partners now owns 4,057,645 shares of the company’s stock valued at $273,347,000 after purchasing an additional 2,162,167 shares during the period. Putnam Investments LLC boosted its stake in shares of Ball by 39.5% in the 4th quarter. Putnam Investments LLC now owns 5,815,825 shares of the company’s stock valued at $334,526,000 after buying an additional 1,645,909 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Ball by 458.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,018,648 shares of the company’s stock worth $61,139,000 after buying an additional 836,293 shares in the last quarter. M&G Plc acquired a new position in shares of Ball during the first quarter worth about $50,193,000. Finally, Platinum Investment Management Ltd. increased its stake in shares of Ball by 11,074.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 558,969 shares of the company’s stock worth $32,152,000 after buying an additional 553,967 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

About Ball

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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.

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