Royal Bank of Canada Lowers Ball (NYSE:BLL) to Sector Perform

Ball (NYSE:BLLGet Rating) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, The Fly reports.

Other research analysts also recently issued reports about the company. Northland Securities upped their price target on Ball from $115.00 to $130.00 in a report on Friday, January 28th. Citigroup lowered their target price on Ball from $104.00 to $96.00 in a report on Friday, April 8th. Mizuho increased their target price on Ball from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, January 28th. Morgan Stanley downgraded Ball from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $110.00 to $100.00 in a report on Thursday, January 20th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Ball from $102.00 to $98.00 in a report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $103.33.

Shares of NYSE:BLL opened at $76.80 on Friday. The company has a market cap of $24.67 billion, a P/E ratio of 28.98, a PEG ratio of 4.10 and a beta of 0.55. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.88 and a quick ratio of 0.58. Ball has a 1 year low of $74.13 and a 1 year high of $98.09. The stock’s fifty day moving average price is $88.04 and its 200-day moving average price is $90.71.

Ball (NYSE:BLLGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.52 billion. Ball had a net margin of 6.36% and a return on equity of 31.47%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts anticipate that Ball will post 3.99 earnings per share for the current year.

In related news, VP Nate C. Carey sold 2,530 shares of the stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $90.50, for a total transaction of $228,965.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nate C. Carey sold 8,563 shares of the stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $91.90, for a total value of $786,939.70. The disclosure for this sale can be found here. Insiders bought 15,862 shares of company stock worth $1,381,499 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Ball by 0.4% during the fourth quarter. BlackRock Inc. now owns 25,808,932 shares of the industrial products company’s stock worth $2,484,628,000 after purchasing an additional 110,471 shares in the last quarter. State Street Corp grew its holdings in Ball by 1.1% during the 4th quarter. State Street Corp now owns 14,845,422 shares of the industrial products company’s stock valued at $1,429,169,000 after buying an additional 160,701 shares in the last quarter. Parnassus Investments LLC purchased a new position in Ball during the 3rd quarter valued at approximately $817,766,000. Morgan Stanley grew its holdings in Ball by 30.7% during the 3rd quarter. Morgan Stanley now owns 7,283,297 shares of the industrial products company’s stock valued at $655,277,000 after buying an additional 1,709,694 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Ball by 19.2% during the 3rd quarter. Goldman Sachs Group Inc. now owns 6,271,300 shares of the industrial products company’s stock valued at $564,228,000 after buying an additional 1,007,998 shares in the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.

Ball Company Profile (Get Rating)

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.

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