Citigroup Has Lowered Expectations for Ball (NYSE:BALL) Stock Price

Ball (NYSE:BALL) had its price objective decreased by analysts at Citigroup from $69.00 to $59.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 9.79% from the stock’s previous close.

Several other equities research analysts have also commented on BALL. Truist Financial dropped their price objective on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho upgraded Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 price objective on shares of Ball in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their target price on Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.08.

Ball Stock Down 0.5 %

NYSE BALL opened at $53.74 on Monday. Ball has a 1 year low of $53.56 and a 1 year high of $71.32. The stock has a market capitalization of $16.04 billion, a PE ratio of 4.05, a PEG ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.82. The business’s 50-day moving average is $58.75 and its 200 day moving average is $61.99.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the company posted $0.83 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Ball will post 3.15 earnings per share for the current year.

Institutional Investors Weigh In On Ball

Hedge funds have recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in shares of Ball during the 3rd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in Ball in the 3rd quarter worth $47,000. Brooklyn Investment Group acquired a new position in Ball during the third quarter worth $66,000. Quarry LP lifted its holdings in Ball by 598.6% during the second quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after purchasing an additional 856 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Ball by 29.1% in the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock valued at $69,000 after purchasing an additional 228 shares during the period. 86.51% of the stock is owned by hedge funds and other 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.