Truist Financial Cuts Ball (NYSE:BALL) Price Target to $58.00

Ball (NYSE:BALL - Free Report) had its price target trimmed by Truist Financial from $65.00 to $58.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

BALL has been the topic of several other reports. Royal Bank of Canada lowered their target price on shares of Ball from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Robert W. Baird reduced their target price on Ball from $70.00 to $63.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Morgan Stanley lowered their price target on Ball from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. 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 research note on Thursday, February 6th. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $49.00 target price (down from $56.00) on shares of Ball in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.80.

Ball Stock Down 0.1 %

Shares of NYSE BALL traded down $0.05 during trading hours on Tuesday, hitting $50.47. The stock had a trading volume of 383,055 shares, compared to its average volume of 2,705,157. The firm's 50-day moving average price is $50.20 and its two-hundred day moving average price is $55.41. Ball has a 52 week low of $43.51 and a 52 week high of $71.32. The company has a market capitalization of $14.25 billion, a P/E ratio of 3.99, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.69 and a current ratio of 1.00.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Ball had a net margin of 33.98% and a return on equity of 16.17%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that Ball will post 3.48 EPS for the current fiscal year.

Ball Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.20 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.80 annualized dividend and a yield of 1.59%. Ball's dividend payout ratio (DPR) is 6.32%.

Ball declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the company to purchase up to 24.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in shares of Ball by 68.9% during the 4th quarter. Picton Mahoney Asset Management now owns 522 shares of the company's stock worth $29,000 after acquiring an additional 213 shares during the period. Venturi Wealth Management LLC raised its position in Ball by 328.4% in the fourth quarter. Venturi Wealth Management LLC now owns 664 shares of the company's stock worth $37,000 after purchasing an additional 509 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in Ball by 764.9% during the first quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after purchasing an additional 719 shares during the period. Parvin Asset Management LLC acquired a new stake in Ball during the fourth quarter valued at approximately $70,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Ball in the 4th quarter valued at approximately $76,000. 86.51% of the stock is owned by institutional investors.

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.