Ball (NYSE:BALL) Given New $61.00 Price Target at Wells Fargo & Company

Ball (NYSE:BALL) had its price objective decreased by Wells Fargo & Company from $63.00 to $61.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley raised shares of Ball from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Truist Financial reissued a “buy” rating and issued a $78.00 target price (up previously from $76.00) on shares of Ball in a research report on Friday, August 2nd. Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, August 14th. Finally, UBS Group increased their target price on Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Trading Up 0.8 %

BALL opened at $59.46 on Friday. The business’s 50 day moving average price is $65.08 and its 200 day moving average price is $64.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.09. The stock has a market capitalization of $18.05 billion, a PE ratio of 4.48, a P/E/G ratio of 1.50 and a beta of 0.90. Ball has a one year low of $48.05 and a one year high of $71.32.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. As a group, equities research analysts expect that Ball will post 3.12 EPS for the current year.

Ball Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. Ball’s payout ratio is 6.03%.

Institutional Investors Weigh In On Ball

Large investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Ball in the 3rd quarter valued at about $47,000. Friedenthal Financial purchased a new position in Ball in the second quarter valued at approximately $47,000. Quarry LP increased its stake in Ball by 598.6% in the second quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Ball by 29.1% during the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after purchasing an additional 228 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 worth $68,000 after buying an additional 815 shares during the last quarter. 86.51% of the stock is owned by hedge funds and other institutional investors.

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.