Wells Fargo & Company Lowers Ball (NYSE:BALL) Price Target to $61.00

Ball (NYSE:BALL) had its price target cut by stock analysts at Wells Fargo & Company from $63.00 to $61.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.37% from the company’s previous close.

BALL has been the subject of a number of other research reports. Truist Financial reiterated a “buy” rating and set a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Wednesday, August 14th. Morgan Stanley upgraded shares of Ball from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $78.00 in a report on Wednesday, September 4th. Royal Bank of Canada decreased their price objective on shares of Ball from $77.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, UBS Group lifted their price objective on shares of Ball from $56.00 to $59.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.92.

Ball Price Performance

BALL stock opened at $59.01 on Friday. Ball has a 12 month low of $47.56 and a 12 month high of $71.32. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $65.18 and a 200 day moving average price of $65.02. The stock has a market cap of $17.91 billion, a PE ratio of 4.45, a P/E/G ratio of 1.62 and a beta of 0.88.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Ball had a net margin of 32.79% and a return on equity of 19.45%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Ball will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BALL. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ball by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,312 shares of the company’s stock worth $1,840,000 after acquiring an additional 1,114 shares in the last quarter. State of Alaska Department of Revenue grew its position in Ball by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 34,206 shares of the company’s stock worth $2,304,000 after purchasing an additional 175 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Ball by 3.5% during the 1st 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. Sequoia Financial Advisors LLC purchased a new stake in Ball during the 1st quarter worth approximately $208,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Ball by 0.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,169 shares of the company’s stock worth $4,255,000 after purchasing an additional 581 shares during the last quarter. Institutional investors 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.