Ball (NYSE:BALL) Given New $56.00 Price Target at Wells Fargo & Company

Ball (NYSE:BALL) had its price target trimmed by Wells Fargo & Company from $61.00 to $56.00 in a research note published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

BALL has been the topic of several other research reports. Truist Financial lowered their target price on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup upped their price objective on shares of Ball from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. 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 note on Tuesday, December 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Ball in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.08.

Ball Stock Down 0.1 %

BALL stock opened at $54.00 on Monday. Ball has a 52 week low of $53.85 and a 52 week high of $71.32. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $58.95 and a 200-day simple moving average of $62.04. The stock has a market capitalization of $16.12 billion, a P/E ratio of 4.07, a P/E/G ratio of 1.44 and a beta of 0.93.

Ball (NYSE:BALL) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating 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 business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities analysts forecast that Ball will post 3.15 earnings per share for the current fiscal year.

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, December 2nd. Ball’s payout ratio is presently 6.03%.

Institutional Investors Weigh In On Ball

Large investors have recently modified their holdings of the company. Everence Capital Management Inc. purchased a new position in shares of Ball during the fourth quarter worth about $774,000. Principal Financial Group Inc. grew its stake in shares of Ball by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 364,856 shares of the company’s stock worth $24,777,000 after purchasing an additional 3,967 shares during the period. Copley Financial Group Inc. purchased a new position in Ball in the third quarter valued at about $504,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Ball in the 3rd quarter worth approximately $1,195,000. Finally, Inspire Trust Co. N.A. increased its position in shares of Ball by 20.0% in the third quarter. Inspire Trust Co. N.A. now owns 48,000 shares of the company’s stock valued at $3,260,000 after buying an additional 8,000 shares in 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.