Royal Bank Of Canada Forecasts Strong Price Appreciation for Ball (NYSE:BALL) Stock

Ball (NYSE:BALL) had its price target increased by stock analysts at Royal Bank Of Canada from $73.00 to $77.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 16.88% from the company’s previous close.

A number of other analysts also recently weighed in on BALL. Bank of America increased their target price on shares of Ball from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Mizuho raised their target price on Ball from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup downgraded Ball from a “buy” rating to a “reduce” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Ball from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Finally, Truist Financial reissued a “buy” rating and issued a $76.00 price target (down from $78.00) on shares of Ball in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Ball Trading Down 1.5%

NYSE:BALL traded down $1.03 during mid-day trading on Thursday, hitting $65.88. 2,571,933 shares of the company’s stock were exchanged, compared to its average volume of 2,401,678. The company has a 50 day simple moving average of $61.38 and a 200-day simple moving average of $61.11. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 1.13. Ball has a fifty-two week low of $46.06 and a fifty-two week high of $69.57. The firm has a market capitalization of $17.44 billion, a P/E ratio of 33.11, a PEG ratio of 1.37 and a beta of 0.94.

Ball (NYSE:BALL) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Ball had a net margin of 6.61% and a return on equity of 18.76%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. As a group, research analysts expect that Ball will post 4.00 earnings per share for the current year.

Insider Buying and Selling at Ball

In other news, SVP Mandy Glew sold 5,626 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total transaction of $358,938.80. Following the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $459,934.20. This represents a 43.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BALL. Pension & Wealth Management Advisors Inc. bought a new position in Ball in the third quarter worth approximately $25,000. Basecamp Wealth Advisors LLC increased its holdings in shares of Ball by 135.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 477 shares of the company’s stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Ball during the second quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Ball during the third quarter worth approximately $28,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Ball by 87.9% in 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 in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

More Ball News

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Citigroup raised its price target to $77 from $75 and maintained a Buy rating; RBC also lifted its target to $77, from $73, and kept its Outperform rating. Both targets imply about 17% upside from the cited $65.88 share price. Citigroup price-target report RBC analyst recommendations
• Positive Sentiment: Truist reiterated its Buy rating, signaling continued confidence in Ball’s prospects. Truist rating report
• Neutral Sentiment: UBS raised its target to $68 from $63 but kept a Neutral rating, suggesting a more modest view of potential gains. UBS price-target report
• Neutral Sentiment: Mizuho set a new $75 price target. Ball’s reported consensus target is $71.46, reflecting generally positive expectations but some variation among analysts. Mizuho price-target report Consensus price-target report
• Negative Sentiment: JPMorgan cut Ball’s rating to Neutral, a cautious counterpoint to the recent target increases. JPMorgan rating report

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.