Ball (NYSE:BALL) Given New $63.00 Price Target at Wells Fargo & Company

by · The Cerbat Gem

Ball (NYSE:BALL – Free Report) had its target price hoisted by Wells Fargo & Company from $61.00 to $63.00 in a research report report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Baird R W upgraded shares of Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada decreased their price objective on shares of Ball from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $78.00 in a research report on Wednesday, September 4th. UBS Group lifted their price objective on shares of Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Finally, Citigroup lifted their price objective 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.08.

View Our Latest Report on Ball

Ball Stock Performance

NYSE:BALL opened at $67.25 on Tuesday. The company has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $65.20. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.88. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.79. Ball has a 52 week low of $42.81 and a 52 week high of $71.32.

Ball (NYSE:BALL – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.10 billion. Ball had a net margin of 32.79% and a return on equity of 19.45%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that Ball will post 3.12 earnings per share for the current fiscal year.

Ball Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Ball’s dividend payout ratio (DPR) is presently 6.02%.

Institutional Investors Weigh In On Ball

Several hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its stake in shares of Ball by 6.1% during the third quarter. Raymond James & Associates now owns 1,720,859 shares of the company’s stock worth $116,864,000 after buying an additional 99,306 shares during the period. Blue Trust Inc. boosted its stake in shares of Ball by 35.7% during the third quarter. Blue Trust Inc. now owns 2,064 shares of the company’s stock worth $140,000 after buying an additional 543 shares during the period. Drake & Associates LLC boosted its stake in shares of Ball by 20.7% during the third quarter. Drake & Associates LLC now owns 5,188 shares of the company’s stock worth $352,000 after buying an additional 888 shares during the period. Hengehold Capital Management LLC acquired a new stake in shares of Ball during the third quarter worth about $211,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Ball by 3.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 57,579 shares of the company’s stock worth $3,910,000 after buying an additional 1,961 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Ball Company Profile

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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.

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