Wells Fargo & Company Lowers Ball (NYSE:BALL) Price Target to $56.00

Ball (NYSE:BALL) had its price objective decreased by analysts at Wells Fargo & Company from $61.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 4.21% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Truist Financial dropped their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective for the company in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Ball in a report on Monday, November 4th. Finally, Citigroup increased their price target on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.08.

Ball Trading Down 0.5 %

Shares of BALL stock opened at $53.74 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 1.09. The stock has a fifty day simple moving average of $58.75 and a two-hundred day simple moving average of $61.99. The firm has a market capitalization of $16.04 billion, a PE ratio of 4.05, a PEG ratio of 1.44 and a beta of 0.93. Ball has a 52-week low of $53.56 and a 52-week high of $71.32.

Ball (NYSE:BALL) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts predict that Ball will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Ball

Several hedge funds and other institutional investors have recently made changes to their positions in BALL. Franklin Resources Inc. grew its holdings in Ball by 4.7% during the 3rd quarter. Franklin Resources Inc. now owns 6,954,876 shares of the company’s stock valued at $453,144,000 after purchasing an additional 309,587 shares during the last quarter. FMR LLC grew its stake in shares of Ball by 15.4% during the third quarter. FMR LLC now owns 4,418,570 shares of the company’s stock valued at $300,065,000 after buying an additional 588,282 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ball by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,414,615 shares of the company’s stock worth $144,951,000 after buying an additional 171,924 shares during the period. Raymond James & Associates lifted its stake in shares of Ball by 6.1% during the 3rd quarter. Raymond James & Associates now owns 1,720,859 shares of the company’s stock worth $116,864,000 after acquiring an additional 99,306 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Ball by 458.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,018,648 shares of the company’s stock valued at $61,139,000 after acquiring an additional 836,293 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.