Ball’s (BALL) Underweight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their underweight rating on shares of Ball (NYSE:BALL) in a report released on Thursday, Marketbeat.com reports. They currently have a $49.00 target price on the stock, down from their prior target price of $56.00.

A number of other analysts also recently commented on BALL. Truist Financial dropped their price target on shares of Ball from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup dropped their target price on Ball from $69.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price target on shares of Ball from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Mizuho upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Tuesday, December 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of Ball in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.17.

Ball Stock Performance

NYSE BALL opened at $54.33 on Thursday. The company has a market capitalization of $16.21 billion, a PE ratio of 4.10, a price-to-earnings-growth ratio of 1.24 and a beta of 0.93. The business’s 50-day moving average price is $57.69 and its 200 day moving average price is $61.58. Ball has a twelve month low of $51.96 and a twelve month high of $71.32. 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 (NYSE:BALL) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. On average, research analysts predict that Ball will post 3.15 earnings per share for the current year.

Ball Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, December 2nd. Ball’s payout ratio is currently 6.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BALL. Peterson Financial Group Inc. bought a new stake in shares of Ball in the third quarter valued at approximately $30,000. Catalyst Capital Advisors LLC bought a new position in shares of Ball during the third quarter valued at about $47,000. Quarry LP boosted its position in Ball by 598.6% during the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock valued at $60,000 after buying an additional 856 shares during the period. Brooklyn Investment Group purchased a new position in shares of Ball during the third quarter valued at approximately $66,000. Finally, EverSource Wealth Advisors LLC raised its stake in Ball by 334.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,059 shares of the company’s stock worth $68,000 after buying an additional 815 shares in the last quarter. 86.51% of the stock is owned by 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.