Ball (NYSE:BLL) Price Target Raised to $86.00 at Citigroup

Ball (NYSE:BLL) had its target price boosted by Citigroup from $81.00 to $86.00 in a research report report published on Monday morning, The Fly reports. Citigroup currently has a buy rating on the industrial products company’s stock.

BLL has been the topic of a number of other reports. ValuEngine cut Ball from a hold rating to a sell rating in a research report on Thursday, August 1st. Vertical Research cut Ball from a hold rating to a sell rating in a research report on Monday, July 8th. Wells Fargo & Co cut Ball from an outperform rating to a market perform rating and raised their target price for the company from $68.00 to $72.00 in a research report on Monday. BMO Capital Markets cut Ball from an outperform rating to a market perform rating and set a $58.10 target price on the stock. in a research report on Monday, April 8th. They noted that the move was a valuation call. Finally, UBS Group raised their target price on Ball from $60.00 to $78.00 and gave the company a neutral rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $61.76.

NYSE:BLL opened at $73.87 on Monday. Ball has a 52 week low of $39.41 and a 52 week high of $76.28. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.10 and a quick ratio of 0.81. The firm has a market cap of $25.02 billion, a PE ratio of 33.58, a PEG ratio of 5.24 and a beta of 0.80. The company’s 50-day simple moving average is $70.46.

Ball (NYSE:BLL) last posted its earnings results on Thursday, August 1st. The industrial products company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). Ball had a net margin of 4.54% and a return on equity of 21.32%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the business earned $0.58 earnings per share. Ball’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that Ball will post 2.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, August 30th. Ball’s dividend payout ratio (DPR) is 27.27%.

In other news, Chairman John A. Hayes sold 9,523 shares of Ball stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $70.98, for a total transaction of $675,942.54. Following the sale, the chairman now owns 437,979 shares of the company’s stock, valued at approximately $31,087,749.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeff A. Knobel sold 6,300 shares of Ball stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $62.28, for a total transaction of $392,364.00. Following the sale, the vice president now directly owns 68,470 shares in the company, valued at approximately $4,264,311.60. The disclosure for this sale can be found here. Insiders sold a total of 32,967 shares of company stock worth $2,184,503 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BLL. Next Capital Management LLC purchased a new stake in shares of Ball during the 2nd quarter valued at approximately $25,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Ball during the 1st quarter valued at approximately $30,000. Pearl River Capital LLC purchased a new stake in shares of Ball during the 1st quarter valued at approximately $30,000. Whittier Trust Co. raised its position in shares of Ball by 56.0% during the 2nd quarter. Whittier Trust Co. now owns 496 shares of the industrial products company’s stock valued at $35,000 after buying an additional 178 shares during the period. Finally, YorkBridge Wealth Partners LLC purchased a new stake in shares of Ball during the 1st quarter valued at approximately $56,000. 81.06% of the stock is currently owned by hedge funds and other institutional investors.

About Ball

Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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