Royal Bank of Canada Reaffirms “Outperform” Rating for Ball (NYSE:BALL)

Ball (NYSE:BALL)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $75.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 25.04% from the stock’s current price.

BALL has been the topic of a number of other reports. Truist Financial reaffirmed a “buy” rating and set a $78.00 target price (up from $76.00) on shares of Ball in a research note on Friday, August 2nd. Mizuho reduced their price target on shares of Ball from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday. Robert W. Baird upgraded Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Wednesday, August 14th. UBS Group lifted their target price on Ball from $56.00 to $59.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Baird R W upgraded Ball from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned 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, the company has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Up 0.9 %

Shares of NYSE BALL opened at $59.98 on Monday. The stock has a market cap of $17.90 billion, a PE ratio of 4.52, a P/E/G ratio of 1.48 and a beta of 0.90. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. Ball has a 12-month low of $48.05 and a 12-month high of $71.32. The company has a 50-day moving average of $65.00 and a 200 day moving average of $64.96.

Ball (NYSE:BALL) last released its quarterly earnings data 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. Ball had a return on equity of 17.46% and a net margin of 34.05%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Ball will post 3.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Boston Partners lifted its holdings in Ball by 114.1% during the 1st quarter. Boston Partners now owns 4,057,645 shares of the company’s stock worth $273,347,000 after buying an additional 2,162,167 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ball by 458.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,018,648 shares of the company’s stock valued at $61,139,000 after acquiring an additional 836,293 shares in the last quarter. M&G Plc acquired a new position in Ball during the 1st quarter worth $50,193,000. Vanguard Group Inc. increased its holdings in Ball by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 35,855,312 shares of the company’s stock worth $2,415,214,000 after purchasing an additional 267,479 shares during the period. Finally, WINTON GROUP Ltd raised its position in Ball by 1,875.2% in the 2nd quarter. WINTON GROUP Ltd now owns 275,238 shares of the company’s stock valued at $16,520,000 after purchasing an additional 261,303 shares in the last quarter. Institutional investors and hedge funds 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.