Ball (NYSE:BLL) had its price objective lifted by Bank of America from $54.00 to $55.00 in a report issued on Friday. The brokerage currently has a buy rating on the industrial products company’s stock.
Other equities research analysts have also recently issued reports about the stock. TheStreet raised shares of Ball from a c+ rating to a b- rating in a research report on Wednesday, August 1st. UBS Group set a $52.00 target price on shares of Ball and gave the stock a buy rating in a research report on Friday, October 5th. Citigroup dropped their target price on shares of Ball from $45.00 to $44.00 and set a buy rating for the company in a research report on Tuesday, July 10th. Royal Bank of Canada reaffirmed a buy rating and issued a $47.00 target price on shares of Ball in a research report on Monday, August 6th. Finally, Deutsche Bank set a $51.00 target price on shares of Ball and gave the stock a buy rating in a research report on Thursday, October 4th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $49.54.
BLL traded down $0.26 during trading on Friday, hitting $47.36. 4,513,262 shares of the stock traded hands, compared to its average volume of 3,815,195. Ball has a 12-month low of $34.71 and a 12-month high of $48.47. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $16.29 billion, a P/E ratio of 21.14, a PEG ratio of 3.81 and a beta of 0.74.
Ball (NYSE:BLL) last posted its earnings results on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). Ball had a return on equity of 20.02% and a net margin of 4.21%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts expect that Ball will post 2.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. Ball’s payout ratio is 19.61%.
In related news, VP Scott C. Morrison sold 25,000 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $44.40, for a total value of $1,110,000.00. Following the completion of the transaction, the vice president now directly owns 30,392 shares in the company, valued at approximately $1,349,404.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman John A. Hayes sold 96,667 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $43.00, for a total transaction of $4,156,681.00. Following the completion of the transaction, the chairman now owns 471,228 shares of the company’s stock, valued at $20,262,804. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Portland Hill Asset Management Ltd increased its stake in shares of Ball by 0.3% in the 3rd quarter. Portland Hill Asset Management Ltd now owns 338,619 shares of the industrial products company’s stock worth $14,947,000 after acquiring an additional 1,126 shares in the last quarter. BB&T Securities LLC increased its stake in shares of Ball by 4.8% in the 2nd quarter. BB&T Securities LLC now owns 28,879 shares of the industrial products company’s stock worth $1,026,000 after acquiring an additional 1,313 shares in the last quarter. Isthmus Partners LLC increased its stake in shares of Ball by 0.8% in the 2nd quarter. Isthmus Partners LLC now owns 159,338 shares of the industrial products company’s stock worth $5,664,000 after acquiring an additional 1,317 shares in the last quarter. Parkwood LLC increased its stake in shares of Ball by 13.9% in the 2nd quarter. Parkwood LLC now owns 11,538 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its stake in Ball by 4.8% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 31,755 shares of the industrial products company’s stock valued at $1,129,000 after purchasing an additional 1,466 shares in the last quarter. Institutional investors own 85.70% of the company’s stock.
Ball Corporation supplies metal packaging products to the beverage, food, personal care, and household products industries. It operates in five segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.
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