Ball (NYSE:BALL) Given New $75.00 Price Target at Morgan Stanley

Ball (NYSE:BALL) had its price objective cut by Morgan Stanley from $78.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Tuesday, December 10th. Truist Financial decreased their target price on Ball from $78.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group upgraded shares of Ball from a “sell” rating to a “neutral” rating and cut their price target for the stock from $62.00 to $58.00 in a report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $75.00 price objective on shares of Ball in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.75.

Ball Stock Up 2.2 %

Shares of Ball stock opened at $53.18 on Monday. Ball has a 52-week low of $51.96 and a 52-week high of $71.32. The firm’s 50 day moving average price is $58.16 and its 200-day moving average price is $61.76. 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 company has a market cap of $15.87 billion, a P/E ratio of 4.01, a PEG ratio of 1.44 and a beta of 0.93.

Ball (NYSE:BALL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.13 billion. Ball had a net margin of 34.05% and a return on equity of 17.46%. Ball’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. On average, sell-side analysts predict that Ball will post 3.15 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. Ball’s payout ratio is 6.03%.

Institutional Trading of Ball

Hedge funds and other institutional investors have recently modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in Ball during the third quarter worth about $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Ball during the 3rd quarter valued at approximately $47,000. Quarry LP lifted its holdings 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 acquiring an additional 856 shares during the last quarter. Brooklyn Investment Group purchased a new position in Ball in the third quarter worth approximately $66,000. Finally, EverSource Wealth Advisors LLC increased its stake in Ball by 334.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after acquiring an additional 815 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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.