Ball’s (BALL) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Ball (NYSE:BALL) in a report published on Monday, Benzinga reports. Royal Bank of Canada currently has a $75.00 target price on the stock.

A number of other research analysts have also recently weighed in on BALL. Morgan Stanley upgraded Ball from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research note on Wednesday, August 14th. Mizuho dropped their target price on shares of Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Ball from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Truist Financial reissued a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ball has an average rating of “Moderate Buy” and an average price target of $70.75.

Ball Trading Up 0.8 %

Shares of BALL stock opened at $59.46 on Monday. The firm’s 50-day simple moving average is $65.08 and its 200-day simple moving average is $64.99. 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 $48.05 and a 1-year high of $71.32. The firm has a market cap of $17.74 billion, a P/E ratio of 4.48, a PEG ratio of 1.48 and a beta of 0.90.

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

Ball Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, December 2nd. Ball’s payout ratio is 6.03%.

Institutional Investors Weigh In On Ball

Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. boosted its stake in shares of Ball by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 18,941 shares of the company’s stock valued at $1,137,000 after buying an additional 162 shares during the last quarter. Fifth Third Bancorp boosted its stake in Ball by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 8,743 shares of the company’s stock valued at $525,000 after acquiring an additional 174 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Ball by 17.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,280 shares of the company’s stock worth $77,000 after acquiring an additional 186 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Ball by 0.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,115 shares of the company’s stock valued at $3,106,000 after purchasing an additional 200 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Ball by 3.5% during the first quarter. First Trust Direct Indexing L.P. now owns 6,132 shares of the company’s stock worth $413,000 after purchasing an additional 210 shares during the last quarter. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

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.