Royal Bank of Canada Lowers Ball (NYSE:BALL) Price Target to $75.00

Ball (NYSE:BALL) had its price target lowered by research analysts at Royal Bank of Canada from $77.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 11.52% from the stock’s current price.

BALL has been the subject of a number of other reports. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Wednesday, August 14th. UBS Group lifted their price objective on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Morgan Stanley raised 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 research note on Wednesday, September 4th. Finally, Truist Financial reissued a “buy” rating and set a $78.00 price objective (up previously from $76.00) on shares of Ball in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.08.

Ball Price Performance

Shares of NYSE BALL opened at $67.25 on Thursday. The stock has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $65.20. Ball has a 1-year low of $42.81 and a 1-year high of $71.32. The firm 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 current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

Ball (NYSE:BALL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Ball had a return on equity of 19.45% and a net margin of 32.79%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts anticipate that Ball will post 3.12 earnings per share for the current year.

Institutional Investors Weigh In On Ball

Large investors have recently added to or reduced their stakes in the company. Jessup Wealth Management Inc purchased a new stake in Ball during the first quarter valued at about $7,479,000. TD Asset Management Inc increased its holdings in shares of Ball by 4.2% in the first quarter. TD Asset Management Inc now owns 1,453,639 shares of the company’s stock worth $97,917,000 after buying an additional 58,863 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Ball in the first quarter worth about $1,973,000. QRG Capital Management Inc. increased its holdings in shares of Ball by 306.6% in the second quarter. QRG Capital Management Inc. now owns 31,750 shares of the company’s stock worth $1,906,000 after buying an additional 23,941 shares during the period. Finally, Addenda Capital Inc. increased its holdings in shares of Ball by 7.3% in the second quarter. Addenda Capital Inc. now owns 153,464 shares of the company’s stock worth $9,211,000 after buying an additional 10,427 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.

About Ball

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.