Truist Financial Raises Ball (NYSE:BALL) Price Target to $67.00

Ball (NYSE:BALL) had its target price upped by Truist Financial from $60.00 to $67.00 in a report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

BALL has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Ball from $52.00 to $62.00 and gave the company an equal weight rating in a report on Monday, March 18th. Robert W. Baird upped their price target on Ball from $62.00 to $70.00 and gave the stock a neutral rating in a research report on Monday. Bank of America raised Ball from an underperform rating to a buy rating and raised their price objective for the stock from $61.00 to $72.00 in a research report on Monday, March 4th. UBS Group assumed coverage on Ball in a research report on Tuesday, January 16th. They set a sell rating and a $55.00 target price on the stock. Finally, Jefferies Financial Group raised their price target on Ball from $69.00 to $78.00 and gave the stock a buy rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $69.15.

Ball Stock Performance

Shares of NYSE:BALL opened at $68.22 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.21 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 5.13, a price-to-earnings-growth ratio of 4.56 and a beta of 0.89. The firm has a 50 day moving average of $65.58 and a 200 day moving average of $58.55. Ball has a 52 week low of $42.81 and a 52 week high of $71.32.

Ball (NYSE:BALL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. Ball had a return on equity of 21.79% and a net margin of 31.42%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was down 17.6% compared to the same quarter last year. On average, sell-side analysts predict that Ball will post 3.1 earnings per share for the current fiscal year.

Ball declared that its board has initiated a share repurchase program on Wednesday, April 24th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Ball Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.20 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. Ball’s dividend payout ratio is currently 6.02%.

Insiders Place Their Bets

In other Ball news, insider Daniel William Fisher acquired 3,869 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $64.56 per share, with a total value of $249,782.64. Following the acquisition, the insider now directly owns 111,866 shares of the company’s stock, valued at $7,222,068.96. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ball

A number of institutional investors have recently modified their holdings of the stock. Jag Capital Management LLC raised its position in Ball by 0.7% during the fourth quarter. Jag Capital Management LLC now owns 25,562 shares of the company’s stock valued at $1,470,000 after acquiring an additional 169 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Ball by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 34,206 shares of the company’s stock worth $2,304,000 after purchasing an additional 175 shares during the period. SYSTM Wealth Solutions LLC increased its holdings in shares of Ball by 0.7% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 26,470 shares of the company’s stock valued at $1,783,000 after purchasing an additional 179 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Ball by 31.0% during the 4th quarter. NBC Securities Inc. now owns 769 shares of the company’s stock valued at $44,000 after purchasing an additional 182 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Ball by 0.9% in the 1st quarter. Greenleaf Trust now owns 22,581 shares of the company’s stock valued at $1,521,000 after purchasing an additional 193 shares during the period. Hedge funds and other 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.