Royal Bank of Canada Reiterates Outperform Rating for Ball (NYSE:BALL)

Ball (NYSE:BALL)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They currently have a $75.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 26.37% from the company’s current price.

Other equities analysts have also issued research reports about the company. Robert W. Baird raised Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, August 14th. Baird R W raised Ball from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $69.00 to $78.00 in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their price target on Ball from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Mizuho lowered their price objective on Ball from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.75.

Ball Stock Performance

NYSE BALL traded up $0.34 during trading hours on Monday, hitting $59.35. The company’s stock had a trading volume of 303,458 shares, compared to its average volume of 1,798,777. Ball has a 12 month low of $48.05 and a 12 month high of $71.32. The company’s 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $65.03. The company has a market cap of $18.02 billion, a P/E ratio of 4.48, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.09 and a quick ratio of 0.88.

Ball (NYSE:BALL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Ball had a return on equity of 17.46% and a net margin of 34.05%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company posted $0.83 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Ball will post 3.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Friedenthal Financial purchased a new position in shares of Ball in the 2nd quarter valued at $47,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Ball in the 3rd quarter worth $47,000. Quarry LP boosted its position in shares of Ball by 598.6% in the 2nd quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Ball by 334.0% during the 2nd 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 period. Finally, Farther Finance Advisors LLC lifted its position in Ball by 29.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after acquiring an additional 228 shares during the period. 86.51% of the stock is currently owned by hedge funds and other 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.