Royal Bank of Canada Increases Ball (NYSE:BALL) Price Target to $61.00

Ball (NYSE:BALLFree Report) had its price objective hoisted by Royal Bank of Canada from $51.00 to $61.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts also recently commented on the company. Truist Financial upped their price objective on Ball from $54.00 to $60.00 and gave the company a hold rating in a research note on Thursday, January 4th. Barclays upped their price objective on Ball from $63.00 to $66.00 and gave the company an overweight rating in a research note on Friday. Bank of America downgraded Ball from a neutral rating to an underperform rating and reduced their price objective for the company from $61.00 to $59.00 in a research note on Tuesday, January 2nd. Mizuho upped their price objective on Ball from $60.00 to $62.00 and gave the company a neutral rating in a research note on Thursday, December 28th. Finally, UBS Group initiated coverage on Ball in a research note on Tuesday, January 16th. They set a sell rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $59.00.

View Our Latest Report on BALL

Ball Stock Down 1.7 %

Ball stock opened at $58.47 on Friday. Ball has a fifty-two week low of $42.81 and a fifty-two week high of $61.13. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.54 and a current ratio of 0.79. The company has a market capitalization of $18.44 billion, a P/E ratio of 26.10, a PEG ratio of 3.82 and a beta of 0.87. The stock has a 50-day simple moving average of $56.89 and a 200-day simple moving average of $53.46.

Ball (NYSE:BALLGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Ball had a return on equity of 23.81% and a net margin of 5.04%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Ball will post 3.12 earnings per share for the current year.

Ball Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, February 29th. Ball’s dividend payout ratio (DPR) is presently 35.71%.

Insider Buying and Selling at Ball

In related news, COO Ronald J. Lewis bought 4,637 shares of the stock in a transaction on Tuesday, November 21st. The shares were purchased at an average price of $53.91 per share, for a total transaction of $249,980.67. Following the acquisition, the chief operating officer now owns 29,797 shares in the company, valued at $1,606,356.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ball

A number of large investors have recently bought and sold shares of BALL. Quarry LP grew its holdings in Ball by 446.3% during the 2nd quarter. Quarry LP now owns 448 shares of the company’s stock valued at $26,000 after buying an additional 366 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Ball during the 4th quarter worth $26,000. Covington Capital Management purchased a new position in shares of Ball during the 3rd quarter worth $26,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Ball by 80.4% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 572 shares of the company’s stock worth $28,000 after purchasing an additional 255 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Ball during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 84.79% of the company’s stock.

About Ball

(Get Free Report)

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, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

Further Reading

Analyst Recommendations for Ball (NYSE:BALL)

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