Ball (NYSE:BALL) Price Target Cut to $78.00 by Analysts at Loop Capital

Ball (NYSE:BALL) had its price target lowered by stock analysts at Loop Capital from $83.00 to $78.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 50.65% from the company’s previous close.

Several other equities analysts have also recently commented on BALL. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $49.00 price target (down previously from $56.00) on shares of Ball in a report on Thursday, January 16th. Royal Bank of Canada reduced their target price on Ball from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Truist Financial lowered their price target on shares of Ball from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Barclays reduced their price objective on shares of Ball from $72.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Mizuho lowered their target price on shares of Ball from $63.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.40.

Ball Stock Up 2.2 %

Shares of BALL stock opened at $51.78 on Wednesday. The stock has a 50 day moving average of $50.24 and a 200-day moving average of $54.42. The firm has a market cap of $14.62 billion, a PE ratio of 4.09, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. Ball has a 12 month low of $43.51 and a 12 month high of $70.97.

Ball (NYSE:BALL) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Ball had a net margin of 33.98% and a return on equity of 16.17%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Ball will post 3.48 EPS for the current year.

Ball announced that its board has approved a share buyback program on Wednesday, January 29th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 24.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Ball

Several institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management increased its stake in shares of Ball by 68.9% in the fourth quarter. Picton Mahoney Asset Management now owns 522 shares of the company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Venturi Wealth Management LLC increased its position in Ball by 328.4% in the 4th quarter. Venturi Wealth Management LLC now owns 664 shares of the company’s stock valued at $37,000 after acquiring an additional 509 shares in the last quarter. Whipplewood Advisors LLC raised its stake in shares of Ball by 764.9% in the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company’s stock worth $42,000 after acquiring an additional 719 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Ball by 40.4% during the first quarter. Federated Hermes Inc. now owns 1,311 shares of the company’s stock worth $68,000 after purchasing an additional 377 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Ball during the fourth quarter valued at approximately $70,000. Institutional investors 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.