Royal Bank of Canada Cuts Ball (NYSE:BALL) Price Target to $75.00

Ball (NYSE:BALL) had its price target lowered by equities research analysts at Royal Bank of Canada from $77.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 11.52% from the company’s previous close.

A number of other brokerages also recently issued reports on BALL. Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $78.00 price objective (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. UBS Group lifted their price objective on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $78.00 in a research report on Wednesday, September 4th. Finally, Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.08.

Ball Stock Up 0.7 %

Shares of NYSE:BALL opened at $67.25 on Thursday. Ball has a 1 year low of $42.81 and a 1 year high of $71.32. The company has a market cap of $20.87 billion, a PE ratio of 5.06, a P/E/G ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.88. The stock’s 50-day moving average is $65.10 and its 200 day moving average is $65.20.

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

Institutional Trading of Ball

A number of hedge funds have recently made changes to their positions in BALL. Independence Bank of Kentucky bought a new stake in shares of Ball in the 1st quarter worth approximately $47,000. Friedenthal Financial bought a new position in Ball in the 2nd quarter valued at approximately $47,000. Quarry LP lifted its position in Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after acquiring an additional 856 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Ball by 334.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock valued at $68,000 after acquiring an additional 815 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Ball in the 2nd quarter valued at approximately $72,000. 86.51% of the stock is owned by institutional investors.

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.