Ball (NYSE:BALL) Stock Rating Reaffirmed by Truist Financial

Ball (NYSE:BALL)‘s stock had its “hold” rating restated by Truist Financial in a research note issued on Friday, Benzinga reports. They currently have a $60.00 price target on the stock. Truist Financial’s target price suggests a potential downside of 8.42% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Morgan Stanley assumed coverage on Ball in a research report on Monday, March 18th. They issued an “equal weight” rating and a $68.00 price objective for the company. Barclays reaffirmed an “equal weight” rating and set a $71.00 price objective (up from $66.00) on shares of Ball in a research report on Thursday, April 4th. Royal Bank of Canada raised shares of Ball from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $61.00 to $74.00 in a research report on Tuesday, February 20th. Wells Fargo & Company lifted their target price on shares of Ball from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. Finally, Bank of America raised shares of Ball from an “underperform” rating to a “buy” rating and increased their price target for the company from $61.00 to $72.00 in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.58.

Ball Price Performance

NYSE:BALL opened at $65.52 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.96. The firm has a fifty day simple moving average of $64.04 and a 200 day simple moving average of $56.82. Ball has a 1-year low of $42.81 and a 1-year high of $67.97. The stock has a market capitalization of $20.68 billion, a PE ratio of 29.25, a P/E/G ratio of 4.27 and a beta of 0.89.

Ball (NYSE:BALL) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Ball had a net margin of 5.04% and a return on equity of 23.81%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business earned $0.44 EPS. Ball’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts expect that Ball will post 3.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel William Fisher bought 3,869 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $64.56 per share, with a total value of $249,782.64. Following the acquisition, the insider now directly owns 111,866 shares in the company, valued at $7,222,068.96. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ball

A number of large investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new position in shares of Ball in the third quarter worth about $533,000. Commonwealth Equity Services LLC acquired a new position in Ball during the 3rd quarter worth approximately $1,319,000. First Trust Advisors LP bought a new position in Ball in the 3rd quarter valued at approximately $2,863,000. Pathstone Family Office LLC acquired a new stake in Ball in the third quarter valued at approximately $621,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Ball during the third quarter worth $1,181,000. Institutional investors and hedge funds own 86.51% of the company’s stock.

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.