Truist Financial Reaffirms Buy Rating for Ball (NYSE:BALL)

Key Points

• Truist reaffirmed its Buy rating on Ball but lowered its price target from $78 to $76, implying 15.76% upside from the prior close.
• Ball reported quarterly EPS of $1.10, above the $1.07 consensus, and revenue of $4.19 billion, up 23.9% year over year.
• Analyst sentiment remains broadly positive: nine analysts rate the stock Buy, and the consensus rating is “Moderate Buy,” with an average price target of $71.08.

Ball (NYSE:BALL - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $76.00 price objective on the stock, down from their previous price objective of $78.00. Truist Financial's price objective would indicate a potential upside of 15.76% from the stock's previous close.

BALL has been the subject of several other research reports. Bank of America upped their price objective on shares of Ball from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Wells Fargo & Company cut their target price on Ball from $72.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. UBS Group cut their target price on Ball from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Citigroup downgraded Ball from a "buy" rating to a "reduce" rating in a report on Wednesday, August 5th. Finally, Mizuho upped their target price on Ball from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ball has an average rating of "Moderate Buy" and an average price target of $71.08.

Ball Stock Up 3.9%

Shares of NYSE:BALL traded up $2.44 during trading on Wednesday, hitting $65.65. 662,864 shares of the company were exchanged, compared to its average volume of 2,366,018. The firm's 50 day moving average price is $61.21 and its 200-day moving average price is $60.95. Ball has a 12-month low of $46.06 and a 12-month high of $68.29. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 0.66. The stock has a market capitalization of $17.38 billion, a P/E ratio of 18.66, a PEG ratio of 1.37 and a beta of 0.94.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. Ball had a net margin of 6.61% and a return on equity of 18.76%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm posted $1.02 EPS. The company's revenue was up 23.9% on a year-over-year basis. On average, research analysts predict that Ball will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at Ball

In other Ball news, SVP Mandy Glew sold 5,626 shares of Ball stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $63.80, for a total value of $358,938.80. Following the transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $459,934.20. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On Ball

Several hedge funds have recently made changes to their positions in BALL. Brighton Jones LLC boosted its position in shares of Ball by 15.4% in the third quarter. Brighton Jones LLC now owns 18,625 shares of the company's stock worth $1,044,000 after acquiring an additional 2,490 shares during the last quarter. Candriam S.C.A. increased its position in Ball by 4.9% during the third quarter. Candriam S.C.A. now owns 100,265 shares of the company's stock worth $6,049,000 after purchasing an additional 4,690 shares during the last quarter. Kimelman & Baird LLC increased its position in Ball by 120.3% during the third quarter. Kimelman & Baird LLC now owns 11,599 shares of the company's stock worth $650,000 after purchasing an additional 6,334 shares during the last quarter. Ethic Inc. increased its position in Ball by 8.8% during the third quarter. Ethic Inc. now owns 41,919 shares of the company's stock worth $2,349,000 after purchasing an additional 3,397 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Ball by 11.6% during the third quarter. Parallel Advisors LLC now owns 4,232 shares of the company's stock worth $237,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 86.51% of the company's stock.

Key Headlines Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Mizuho raised its price target to $75 from $72 and reiterated an “outperform” rating, signaling confidence in further upside. Mizuho rating information
• Positive Sentiment: Ball’s Q3 comparable EPS of $1.10 topped estimates, while revenue increased 23.9% year over year to $4.19 billion, supported by higher volumes and favorable price/mix. Q3 earnings analysis
• Neutral Sentiment: JPMorgan downgraded Ball from “overweight” to “neutral,” but set a $65 target, modestly above the cited share price. The rating change tempers the positive view from Mizuho. JPMorgan rating information
• Negative Sentiment: Shares fell in premarket trading after the results. Coverage pointed to cost pressures and shrinking operating margins as potential offsets to sales growth; Ball also reported a GAAP diluted loss of $0.36 per share for the quarter. Q3 results and share reaction

Ball Company Profile

Ball Corporation is a global supplier of sustainable aluminum packaging. The company primarily manufactures aluminum beverage cans, bottles and cups used by beer, soft-drink, energy-drink and other beverage companies. Its products are designed to support brand presentation, product protection and recycling throughout the packaging lifecycle.

Ball serves customers across North and South America, Europe and other international markets through a network of manufacturing facilities. The company also develops and markets aluminum packaging products for additional consumer and household applications, including its reusable and recyclable Ball Aluminum Cup.

Founded in 1880 as a manufacturer of glass containers, Ball evolved into a major producer of metal packaging and became particularly known for its aluminum beverage cans.

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