Ball (NYSE:BALL) Price Target Cut to $63.00 by Analysts at Robert W. Baird

Ball (NYSE:BALL) had its price objective cut by Robert W. Baird from $70.00 to $63.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Ball in a research note on Monday, November 4th. Mizuho raised shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 target price on the stock in a research report on Tuesday, December 10th. Truist Financial lowered their price target on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup cut their price objective on shares of Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, UBS Group upgraded shares of Ball from a “sell” rating to a “neutral” rating and lowered their target price for the company from $62.00 to $58.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ball has an average rating of “Moderate Buy” and an average price target of $67.17.

Ball Trading Down 1.4 %

NYSE:BALL opened at $51.12 on Wednesday. Ball has a 12 month low of $50.81 and a 12 month high of $71.32. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $56.21 and a 200-day moving average price of $61.14. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 3.86, a P/E/G ratio of 1.39 and a beta of 0.94.

Ball (NYSE:BALL) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 34.05% and a return on equity of 17.46%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the business posted $0.78 earnings per share. Ball’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts predict that Ball will post 3.15 EPS for the current year.

Ball announced that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 24.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, March 3rd. Ball’s dividend payout ratio is currently 6.03%.

Institutional Investors Weigh In On Ball

Large investors have recently bought and sold shares of the business. Everence Capital Management Inc. bought a new stake in shares of Ball in the fourth quarter worth approximately $774,000. Meeder Asset Management Inc. boosted its holdings in Ball by 400.4% in the third quarter. Meeder Asset Management Inc. now owns 162,690 shares of the company’s stock worth $11,048,000 after purchasing an additional 130,175 shares during the last quarter. Hemenway Trust Co LLC grew its position in Ball by 46.3% in the 3rd quarter. Hemenway Trust Co LLC now owns 275,083 shares of the company’s stock worth $18,681,000 after purchasing an additional 87,120 shares during the period. Estate Counselors LLC purchased a new stake in Ball during the 3rd quarter valued at $1,825,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ball by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,984 shares of the company’s stock valued at $6,111,000 after buying an additional 18,327 shares during the last quarter. 86.51% of the stock is currently owned by institutional investors.

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.