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

Ball (NYSE:BALL) had its target price raised by Wells Fargo & Company from $61.00 to $63.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently issued reports on the company. Citigroup upped their target price on Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their target price on Ball from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 14th. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $69.00 to $78.00 in a research report on Wednesday, September 4th. Finally, Truist Financial reissued a “buy” rating and issued a $78.00 target price (up from $76.00) on shares of Ball in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ball currently has an average rating of “Moderate Buy” and a consensus target price of $71.08.

Ball Stock Performance

Shares of BALL opened at $67.25 on Tuesday. Ball has a 12 month low of $42.81 and a 12 month high of $71.32. The stock has a fifty day moving average price of $65.10 and a 200-day moving average price of $65.20. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The firm has a market cap of $20.87 billion, a PE ratio of 5.06, a P/E/G ratio of 1.63 and a beta of 0.88.

Ball (NYSE:BALL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.61 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts predict that Ball will post 3.12 earnings per share for the current fiscal year.

Ball Announces Dividend

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

Institutional Trading of Ball

Institutional investors have recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in shares of Ball during the 1st quarter valued at approximately $47,000. Friedenthal Financial purchased a new stake in shares of Ball during the 2nd quarter valued at approximately $47,000. Quarry LP raised its position in shares of Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after buying an additional 856 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Ball by 334.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock valued at $68,000 after buying an additional 815 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Ball in the 2nd quarter valued at approximately $72,000. 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.