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

Ball (NYSE:BALL) had its target price reduced by equities research analysts at Wells Fargo & Company from $61.00 to $56.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.21% from the company’s previous close.

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

Ball Stock Down 0.5 %

Shares of NYSE:BALL opened at $53.74 on Monday. The business’s 50 day moving average is $58.75 and its 200 day moving average is $61.99. The stock has a market cap of $16.04 billion, a P/E ratio of 4.05, a price-to-earnings-growth 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. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last posted its quarterly earnings results 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 business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS. Sell-side analysts predict that Ball will post 3.15 EPS for the current year.

Hedge Funds Weigh In On Ball

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake 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 purchasing an additional 836,293 shares during the last quarter. FMR LLC lifted its holdings in shares of Ball by 15.4% during 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. boosted its position in Ball by 4.7% in the third quarter. Franklin Resources Inc. now owns 6,954,876 shares of the company’s stock valued at $453,144,000 after buying an additional 309,587 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Ball by 1,875.2% in the 2nd quarter. WINTON GROUP Ltd now owns 275,238 shares of the company’s stock worth $16,520,000 after buying an additional 261,303 shares during the period. Finally, KBC Group NV raised its position in Ball by 402.1% during the 3rd quarter. KBC Group NV now owns 265,261 shares of the company’s stock worth $18,014,000 after buying an additional 212,430 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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.