Ball (NYSE:BALL) Given “Outperform” Rating at Royal Bank of Canada

Ball (NYSE:BALL)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $75.00 target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 25.04% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group boosted their price target on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Citigroup upped their target price on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. Mizuho lowered their target price on shares of Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Baird R W upgraded shares of Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.75.

Ball Stock Performance

NYSE:BALL opened at $59.98 on Monday. Ball has a 12 month low of $48.05 and a 12 month high of $71.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The firm has a market capitalization of $17.90 billion, a PE ratio of 4.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90. The business’s fifty day moving average price is $65.00 and its 200 day moving average price is $64.96.

Ball (NYSE:BALL) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. On average, sell-side analysts anticipate that Ball will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of Ball

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MQS Management LLC grew its stake in Ball by 10.0% in the 3rd quarter. MQS Management LLC now owns 8,873 shares of the company’s stock worth $603,000 after acquiring an additional 808 shares during the period. Aigen Investment Management LP grew its position in shares of Ball by 44.6% in the third quarter. Aigen Investment Management LP now owns 11,392 shares of the company’s stock valued at $774,000 after purchasing an additional 3,512 shares during the period. Hemenway Trust Co LLC grew its position in shares of Ball by 46.3% in the third quarter. Hemenway Trust Co LLC now owns 275,083 shares of the company’s stock valued at $18,681,000 after purchasing an additional 87,120 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Ball by 0.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 692,380 shares of the company’s stock valued at $47,020,000 after purchasing an additional 2,762 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Ball by 6.8% during the third quarter. GSA Capital Partners LLP now owns 9,519 shares of the company’s stock worth $646,000 after buying an additional 608 shares during the period. Hedge funds and other 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.