Ball (NYSE:BALL) Given New $59.00 Price Target at Citigroup

Ball (NYSE:BALL) had its price objective reduced by equities research analysts at Citigroup from $69.00 to $59.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 9.26% from the stock’s current price.

BALL has been the subject of a number of other reports. Mizuho raised Ball from a “neutral” rating to an “outperform” rating and set a $67.00 target price for the company in a research report on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of Ball in a research report on Monday, November 4th. Truist Financial decreased their price target on shares of Ball from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on shares of Ball from $61.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.08.

Ball Stock Down 0.1 %

BALL traded down $0.03 on Monday, reaching $54.00. The company’s stock had a trading volume of 2,685,210 shares, compared to its average volume of 2,041,969. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. Ball has a fifty-two week low of $53.85 and a fifty-two week high of $71.32. The stock has a 50 day moving average of $59.16 and a two-hundred day moving average of $62.09. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 4.07, a P/E/G ratio of 1.44 and a beta of 0.93.

Ball (NYSE:BALL) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Ball had a net margin of 34.05% and a return on equity of 17.46%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm posted $0.83 EPS. The company’s revenue was down .9% on a year-over-year basis. As a group, analysts forecast that Ball will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Ball

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Ball during the third quarter worth about $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Ball during the 3rd quarter worth approximately $47,000. Brooklyn Investment Group acquired a new stake in shares of Ball in the 3rd quarter worth approximately $66,000. Quarry LP raised its holdings in Ball by 598.6% during the second quarter. Quarry LP now owns 999 shares of the company’s stock worth $60,000 after purchasing an additional 856 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Ball by 29.1% during the third quarter. Farther Finance Advisors LLC now owns 1,011 shares of the company’s stock worth $69,000 after purchasing an additional 228 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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.