Bank of America Boosts Ball (BLL) Price Target to $50.00

Ball (NYSE:BLL) had its price objective lifted by Bank of America from $44.00 to $50.00 in a report issued on Monday. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research 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. Barclays increased their price target on shares of Ball from $42.00 to $43.00 and gave the company an equal weight rating in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Ball from a sell rating to a hold rating in a research report on Tuesday, August 7th. ValuEngine raised shares of Ball from a strong sell rating to a sell rating in a research report on Friday, August 3rd. Finally, Citigroup dropped their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $45.64.

Shares of BLL opened at $44.30 on Monday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.57 and a beta of 0.88. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.23 and a quick ratio of 0.92. Ball has a twelve month low of $34.71 and a twelve month high of $45.21.

Ball (NYSE:BLL) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Ball had a net margin of 4.12% and a return on equity of 19.93%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. equities research analysts forecast that Ball will post 2.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th were given a $0.10 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.90%. Ball’s dividend payout ratio is 19.61%.

In other news, VP Scott C. Morrison sold 25,000 shares of the firm’s 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 sale, the vice president now directly owns 30,392 shares of the company’s stock, valued at approximately $1,349,404.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John A. Hayes sold 96,667 shares of the firm’s 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 sale, the chairman now directly owns 471,228 shares of the company’s stock, valued at $20,262,804. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Several large investors have recently bought and sold shares of BLL. BlackRock Inc. lifted its position in Ball by 0.9% during the 1st quarter. BlackRock Inc. now owns 21,517,763 shares of the industrial products company’s stock valued at $854,472,000 after acquiring an additional 194,319 shares during the period. Janus Henderson Group PLC lifted its position in Ball by 11.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,577,094 shares of the industrial products company’s stock valued at $304,917,000 after acquiring an additional 915,131 shares during the period. Chilton Investment Co. LLC lifted its position in Ball by 2.6% during the 2nd quarter. Chilton Investment Co. LLC now owns 2,871,212 shares of the industrial products company’s stock valued at $102,072,000 after acquiring an additional 72,385 shares during the period. Cooke & Bieler LP lifted its position in Ball by 22.0% during the 2nd quarter. Cooke & Bieler LP now owns 2,738,645 shares of the industrial products company’s stock valued at $97,359,000 after acquiring an additional 493,258 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in Ball by 0.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,709,001 shares of the industrial products company’s stock valued at $96,305,000 after acquiring an additional 16,785 shares during the period. 85.61% of the stock is owned by hedge funds and other institutional investors.

About Ball

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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