Bank of America Increases Ball (NYSE:BLL) Price Target to $55.00

Ball (NYSE:BLL) had its target price lifted by Bank of America from $54.00 to $55.00 in a research note issued to investors on Friday, November 2nd. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America’s price target indicates a potential upside of 12.98% from the stock’s current price.

A number of other equities research analysts also recently issued reports on BLL. Citigroup reduced 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. TheStreet upgraded shares of Ball from a “c+” rating to a “b-” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Ball from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $47.00 price target on shares of Ball in a research report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Ball has an average rating of “Buy” and a consensus target price of $50.00.

NYSE:BLL traded down $0.04 during mid-day trading on Friday, reaching $48.68. The stock had a trading volume of 4,123,588 shares, compared to its average volume of 3,586,198. Ball has a twelve month low of $34.71 and a twelve month high of $49.18. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 1.74. The company has a market cap of $16.57 billion, a P/E ratio of 23.86, a PEG ratio of 4.02 and a beta of 0.74.

Ball (NYSE:BLL) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). Ball had a net margin of 4.21% and a return on equity of 20.02%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. Ball’s revenue was up 1.3% on a year-over-year basis. Analysts expect that Ball will post 2.21 EPS for the current year.

In related news, Chairman John A. Hayes sold 96,667 shares of Ball stock in a transaction that occurred on 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 directly owns 471,228 shares in the company, valued at approximately $20,262,804. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff A. Knobel sold 6,899 shares of Ball stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $47.42, for a total value of $327,150.58. Following the transaction, the vice president now owns 68,389 shares of the company’s stock, valued at $3,243,006.38. The disclosure for this sale can be found here. Insiders have sold a total of 128,566 shares of company stock valued at $5,593,832 over the last 90 days. Insiders own 2.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BLL. Adviser Investments LLC purchased a new stake in Ball in the 2nd quarter worth approximately $106,000. Zions Bancorporation purchased a new stake in Ball in the 3rd quarter worth approximately $114,000. Piedmont Investment Advisors LLC purchased a new stake in Ball in the 2nd quarter worth approximately $145,000. Advisor Partners LLC purchased a new stake in Ball in the 3rd quarter worth approximately $204,000. Finally, Chicago Capital LLC purchased a new stake in Ball in the 3rd quarter worth approximately $211,000. 85.78% 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.

See Also: How Buying a Call Option Works

Analyst Recommendations for Ball (NYSE:BLL)

Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply