Ball (NYSE:BALL) Stock Price Target Raised at UBS Group

Ball (NYSE:BALL) had its price objective upped by equities researchers at UBS Group from $63.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s target price would indicate a potential upside of 0.87% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Citigroup cut shares of Ball from a “buy” rating to a “reduce” rating in a research note on Wednesday, August 5th. Mizuho upped their price target on shares of Ball from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Ball from an “overweight” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Ball from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Finally, Bank of America boosted their price objective on shares of Ball from $70.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.46.

Ball Stock Up 6.7%

Ball stock traded up $4.21 during midday trading on Wednesday, reaching $67.42. The company’s stock had a trading volume of 4,025,332 shares, compared to its average volume of 2,382,625. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 0.66. The stock has a market capitalization of $17.85 billion, a P/E ratio of 19.10, a PEG ratio of 1.37 and a beta of 0.94. The stock’s 50-day simple moving average is $61.21 and its 200-day simple moving average is $60.95. Ball has a 52-week low of $46.06 and a 52-week high of $68.29.

Ball (NYSE:BALL) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Ball had a return on equity of 18.76% and a net margin of 6.61%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The company’s revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Ball will post 4.01 EPS for the current year.

Insider Activity at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $459,934.20. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ball

Several hedge funds have recently added to or reduced their stakes in the business. Pension & Wealth Management Advisors Inc. purchased a new position in Ball during the third quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC boosted its position in Ball by 135.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Ball during the 3rd quarter worth approximately $28,000. Ancora Advisors LLC acquired a new stake in shares of Ball during the 2nd quarter worth approximately $30,000. Finally, Manchester Capital Management LLC grew its stake in shares of Ball by 87.9% during the 3rd quarter. Manchester Capital Management LLC now owns 592 shares of the company’s stock worth $33,000 after purchasing an additional 277 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Ball reported Q3 comparable EPS of $1.10, above estimates, while revenue rose 23.9% year over year to $4.19 billion, beating expectations. Higher shipments and favorable pricing and product mix supported growth. Q3 earnings beat on higher volumes and favorable price/mix
• Positive Sentiment: Mizuho raised its price target to $75 from $72 and assigned an “outperform” rating, signaling continued upside potential in its view. Mizuho recommendations
• Neutral Sentiment: Truist reiterated its “buy” rating but lowered its target to $76 from $78, tempering its outlook while still seeing potential upside. Truist recommendations
• Negative Sentiment: JPMorgan downgraded Ball from “overweight” to “neutral” and set a $65 target, below the price cited in the report. The company also faced cost pressures and shrinking operating margins, while its reported GAAP result was a diluted loss per share despite positive comparable EPS. Q3 comparable earnings and net sales

About Ball

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.