Truist Financial Cuts Ball (NYSE:BALL) Price Target to $73.00

Ball (NYSE:BALL) had its price target dropped by analysts at Truist Financial from $78.00 to $73.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 35.84% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Ball from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Citigroup lifted their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of Ball in a report on Monday, November 4th. Finally, Mizuho raised 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ball currently has an average rating of “Moderate Buy” and a consensus target price of $69.08.

Ball Trading Down 0.5 %

Shares of BALL opened at $53.74 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. Ball has a 1-year low of $53.56 and a 1-year high of $71.32. The company has a market capitalization of $16.04 billion, a P/E ratio of 4.05, a P/E/G ratio of 1.44 and a beta of 0.93. The firm’s 50 day simple moving average is $58.75 and its 200 day simple moving average is $61.99.

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

Institutional Investors Weigh In On Ball

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Ball by 458.6% in 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 during the period. FMR LLC grew its stake in Ball by 15.4% in the third quarter. FMR LLC now owns 4,418,570 shares of the company’s stock worth $300,065,000 after purchasing an additional 588,282 shares during the period. Franklin Resources Inc. raised its holdings in Ball by 4.7% in the third quarter. Franklin Resources Inc. now owns 6,954,876 shares of the company’s stock worth $453,144,000 after purchasing an additional 309,587 shares in the last quarter. WINTON GROUP Ltd lifted its position in Ball by 1,875.2% during the second quarter. WINTON GROUP Ltd now owns 275,238 shares of the company’s stock valued at $16,520,000 after buying an additional 261,303 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Ball by 402.1% during the 3rd quarter. KBC Group NV now owns 265,261 shares of the company’s stock valued at $18,014,000 after buying an additional 212,430 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

About Ball

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.