Ball (NYSE:BALL) Given New $63.00 Price Target at Citigroup

Ball (NYSE:BALL - Get Free Report) had its price target upped by Citigroup from $55.00 to $63.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price suggests a potential upside of 7.49% from the stock's previous close.

BALL has been the topic of several other research reports. Mizuho reduced their target price on shares of Ball from $63.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Royal Bank Of Canada increased their price objective on shares of Ball from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Truist Financial lowered their target price on shares of Ball from $65.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company increased their price target on Ball from $44.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday, May 7th. Finally, Barclays decreased their price objective on Ball from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.40.

Ball Price Performance

BALL traded down $0.13 during midday trading on Thursday, hitting $58.61. The company had a trading volume of 876,958 shares, compared to its average volume of 2,219,318. Ball has a twelve month low of $43.51 and a twelve month high of $68.12. The company has a market capitalization of $16.26 billion, a PE ratio of 18.07, a P/E/G ratio of 1.58 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. The firm's 50-day simple moving average is $53.82 and its 200-day simple moving average is $52.67.

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

Hedge Funds Weigh In On Ball

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BALL. Norges Bank bought a new stake in shares of Ball in the fourth quarter valued at about $190,105,000. JPMorgan Chase & Co. raised its position in Ball by 44.2% in the 1st quarter. JPMorgan Chase & Co. now owns 8,002,327 shares of the company's stock valued at $416,681,000 after buying an additional 2,453,630 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ball in the 4th quarter valued at approximately $94,861,000. London Co. of Virginia lifted its stake in Ball by 61.1% in the 4th quarter. London Co. of Virginia now owns 3,054,393 shares of the company's stock valued at $168,389,000 after acquiring an additional 1,158,668 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Ball by 359.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,184,629 shares of the company's stock worth $60,299,000 after acquiring an additional 926,728 shares in the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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.