Ball (NYSE:BALL) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada has increased its price target for Ball stock from $69.00 to $70.00, indicating a potential upside of 30.54% from the stock's previous close.
• Ball's stock has seen a significant increase of 2.0% during trading, reaching $53.62, while maintaining a market capitalization of $14.88 billion.
• In recent reports, analysts have varied ratings and price targets for Ball, with a consensus rating of "Moderate Buy" and an average target price of $65.27.

Ball (NYSE:BALL - Get Free Report) had its price target hoisted by equities researchers at Royal Bank Of Canada from $69.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 29.49% from the company's current price.

A number of other equities research analysts have also weighed in on BALL. Mizuho lifted their price objective on Ball from $60.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Truist Financial lifted their price objective on Ball from $62.00 to $69.00 and gave the company a "buy" rating in a report on Friday, July 11th. Citigroup lifted their price objective on Ball from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. UBS Group lifted their price objective on Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $66.00 price objective (down previously from $67.00) on shares of Ball in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Ball has an average rating of "Moderate Buy" and a consensus target price of $65.27.

Ball Stock Performance

Shares of NYSE BALL traded up $0.02 during midday trading on Thursday, reaching $54.06. 1,729,402 shares of the company were exchanged, compared to its average volume of 2,425,928. The company has a current ratio of 1.00, a quick ratio of 0.70 and a debt-to-equity ratio of 1.23. Ball has a 1 year low of $43.51 and a 1 year high of $68.12. The stock has a fifty day simple moving average of $56.65 and a 200 day simple moving average of $53.17. The stock has a market cap of $14.71 billion, a P/E ratio of 28.01, a PEG ratio of 1.22 and a beta of 1.08.

Ball (NYSE:BALL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Ball had a return on equity of 16.81% and a net margin of 4.49%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company posted $0.74 earnings per share. The business's revenue was up 12.8% on a year-over-year basis. On average, research analysts forecast that Ball will post 3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ball

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its position in shares of Ball by 145.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 517 shares of the company's stock worth $29,000 after purchasing an additional 306 shares during the last quarter. 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 raised 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 purchasing an additional 297 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Ball during the 1st quarter worth approximately $39,000. Finally, Whipplewood Advisors LLC raised its position in shares of Ball by 764.9% during the 1st quarter. Whipplewood Advisors LLC now owns 813 shares of the company's stock worth $42,000 after purchasing an additional 719 shares during 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.