Truist Securities Begins Coverage on Ball (NYSE:BLL)

Truist Securities began coverage on shares of Ball (NYSE:BLL) in a research note published on Tuesday, Analyst Ratings Network reports. The firm issued a hold rating and a $102.00 price objective on the industrial products company’s stock.

Several other brokerages also recently issued reports on BLL. Zacks Investment Research downgraded Ball from a buy rating to a hold rating and set a $102.00 price target on the stock. in a research report on Thursday, September 2nd. Robert W. Baird reaffirmed a hold rating and issued a $85.00 price target on shares of Ball in a research report on Friday, August 6th. Wells Fargo & Company lowered their price target on Ball from $100.00 to $92.00 and set an equal weight rating on the stock in a research report on Monday, August 9th. Northland Securities assumed coverage on Ball in a research report on Tuesday, June 29th. They set a buy rating and a $113.00 target price on the stock. Finally, BMO Capital Markets downgraded Ball from an outperform rating to a market perform rating and decreased their target price for the stock from $107.00 to $87.00 in a research report on Wednesday, May 26th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ball presently has an average rating of Buy and an average target price of $101.17.

Ball stock opened at $92.65 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.85 and a quick ratio of 0.60. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 5.35 and a beta of 0.47. Ball has a one year low of $77.95 and a one year high of $102.76. The company’s fifty day moving average price is $88.53 and its two-hundred day moving average price is $86.75.

Ball (NYSE:BLL) last posted its earnings results on Thursday, August 5th. The industrial products company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.22 billion. Ball had a net margin of 6.81% and a return on equity of 32.37%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Ball will post 3.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be paid a dividend of $0.20 per share. This is a boost from Ball’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, August 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.86%. Ball’s dividend payout ratio (DPR) is currently 26.94%.

In other news, EVP Lisa Ann Pauley sold 17,773 shares of Ball stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $88.95, for a total value of $1,580,908.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Kaufman sold 1,060 shares of Ball stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $94.58, for a total transaction of $100,254.80. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 11,200 shares of company stock valued at $1,020,152. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors have recently modified their holdings of BLL. D1 Capital Partners L.P. increased its holdings in shares of Ball by 182.9% in the first quarter. D1 Capital Partners L.P. now owns 4,374,447 shares of the industrial products company’s stock valued at $370,691,000 after purchasing an additional 2,828,067 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Ball by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,529,714 shares of the industrial products company’s stock valued at $2,163,388,000 after purchasing an additional 1,856,256 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Ball by 1,030.1% in the second quarter. First Trust Advisors LP now owns 1,758,105 shares of the industrial products company’s stock valued at $142,442,000 after purchasing an additional 1,602,533 shares in the last quarter. Amundi acquired a new stake in shares of Ball in the second quarter valued at approximately $108,181,000. Finally, Goldman Sachs Group Inc. grew its holdings in Ball by 31.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,901,809 shares of the industrial products company’s stock worth $415,379,000 after acquiring an additional 1,172,069 shares during the period. 80.59% of the stock is owned by institutional investors and hedge funds.

About Ball

Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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Analyst Recommendations for Ball (NYSE:BLL)

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