Bank of America Downgrades Ball (NYSE:BLL) to Neutral

Ball (NYSE:BLL) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Briefing.com reports. They currently have a $95.00 price target on the industrial products company’s stock, down from their previous price target of $101.00. Bank of America‘s target price would indicate a potential upside of 4.65% from the company’s previous close.

BLL has been the topic of a number of other research reports. Robert W. Baird reaffirmed a “hold” rating and set a $85.00 price target on shares of Ball in a research note on Friday, August 6th. Truist Securities began coverage on shares of Ball in a research note on Tuesday, September 14th. They set a “hold” rating and a $102.00 price target on the stock. Zacks Investment Research downgraded shares of Ball from a “buy” rating to a “hold” rating and set a $102.00 target price on the stock. in a research note on Thursday, September 2nd. Mizuho began coverage on shares of Ball in a research note on Tuesday. They issued a “neutral” rating and a $104.00 target price on the stock. Finally, Barclays raised their target price on shares of Ball from $95.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, September 20th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ball currently has an average rating of “Hold” and a consensus target price of $102.85.

NYSE:BLL opened at $90.78 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 1.88. The company has a market cap of $29.65 billion, a P/E ratio of 34.78, a P/E/G ratio of 5.35 and a beta of 0.47. Ball has a fifty-two week low of $77.95 and a fifty-two week high of $102.76. The firm’s 50 day moving average is $92.24 and its two-hundred day moving average is $87.80.

Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.22 billion. Ball had a net margin of 6.81% and a return on equity of 32.37%. Ball’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Research analysts forecast that Ball will post 3.55 earnings per share for the current fiscal year.

In other Ball news, insider David A. Kaufman sold 1,060 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $94.58, for a total transaction of $100,254.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pedro Henrique Mariani purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The stock was acquired at an average cost of $94.56 per share, with a total value of $283,680.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 11,200 shares of company stock valued at $1,020,152. Company insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BLL. D1 Capital Partners L.P. boosted its holdings in shares of Ball by 182.9% in the 1st quarter. D1 Capital Partners L.P. now owns 4,374,447 shares of the industrial products company’s stock valued at $370,691,000 after buying an additional 2,828,067 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ball by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,529,714 shares of the industrial products company’s stock valued at $2,163,388,000 after buying an additional 1,856,256 shares during the period. First Trust Advisors LP boosted its holdings in shares of Ball by 1,030.1% in the 2nd quarter. First Trust Advisors LP now owns 1,758,105 shares of the industrial products company’s stock valued at $142,442,000 after buying an additional 1,602,533 shares during the period. Amundi acquired a new position in shares of Ball in the 2nd quarter valued at about $108,181,000. Finally, Atlanta Capital Management Co. L L C boosted its holdings in shares of Ball by 133.6% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,536,106 shares of the industrial products company’s stock valued at $124,455,000 after buying an additional 878,534 shares during the period. 80.59% of the stock is owned by institutional investors and hedge funds.

Ball Company Profile

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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Analyst Recommendations for Ball (NYSE:BLL)

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