Ball (NYSE:BALL) Price Target Raised to $54.00 at Wells Fargo & Company

Ball (NYSE:BALL - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $50.00 to $54.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's target price indicates a potential downside of 6.59% from the stock's previous close.

BALL has been the subject of several other research reports. Loop Capital reduced their price objective on shares of Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Mizuho upped their price target on shares of Ball from $60.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Bank of America reaffirmed a "neutral" rating and set a $66.00 price target (down from $67.00) on shares of Ball in a research note on Wednesday, July 9th. Citigroup upped their price target on shares of Ball from $55.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Barclays lowered their price target on shares of Ball from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.64.

Ball Stock Performance

NYSE BALL traded down $0.26 during mid-day trading on Friday, reaching $57.81. 2,130,615 shares of the stock were exchanged, compared to its average volume of 2,225,471. The business's 50 day moving average is $55.47 and its 200-day moving average is $52.83. Ball has a 1 year low of $43.51 and a 1 year high of $68.12. The company has a market capitalization of $16.04 billion, a P/E ratio of 34.41, a P/E/G ratio of 1.62 and a beta of 1.08. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.04.

Ball (NYSE:BALL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. Ball had a net margin of 4.18% and a return on equity of 15.41%. The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $2.91 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Ball will post 3.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ball

Several hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Ball during the 1st quarter worth approximately $32,000. Strengthening Families & Communities LLC lifted its position in shares of Ball by 72.4% during the 1st quarter. Strengthening Families & Communities LLC now owns 707 shares of the company's stock worth $37,000 after buying an additional 297 shares during the last quarter. SVB Wealth LLC acquired a new position in Ball in the 1st quarter worth about $39,000. Whipplewood Advisors LLC increased its holdings in Ball by 764.9% in the 1st quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after purchasing an additional 719 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Ball in the fourth quarter valued at about $70,000. Institutional investors own 86.51% of the company's stock.

About Ball

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.