Ball (NYSE:BALL) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Ball shares reached a new 52-week high, trading as high as $69.23, after UBS raised its price target from $63 to $68 while maintaining a Neutral rating.
• Ball’s third-quarter results beat expectations: adjusted earnings were $1.10 per share versus $1.07 forecast, while revenue rose 23.9% year over year to $4.19 billion.
• Analyst views remain mixed, with a $71.46 average price target; JPMorgan downgraded the stock to Neutral and cited a $65 target, while reports also noted cost pressures and shrinking operating margins.

Ball Corporation (NYSE:BALL - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $63.00 to $68.00. UBS Group currently has a neutral rating on the stock. Ball traded as high as $69.23 and last traded at $69.0730, with a volume of 130,016 shares. The stock had previously closed at $67.38.

BALL has been the topic of several other reports. Royal Bank Of Canada decreased their target price on shares of Ball from $77.00 to $73.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 13th. Bank of America lifted their price target on Ball from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut Ball from an "overweight" rating to a "neutral" rating and set a $65.00 price objective on the stock. in a research note on Wednesday. Truist Financial reiterated a "buy" rating and issued a $76.00 target price (down from $78.00) on shares of Ball in a report on Wednesday. Finally, Citigroup downgraded Ball from a "buy" rating to a "reduce" rating in a research report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ball currently has an average rating of "Moderate Buy" and an average price target of $71.46.

Insider Buying and Selling at Ball

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

Key Headlines Impacting Ball

Here are the key news stories impacting Ball this week:

• Positive Sentiment: Ball reported Q3 adjusted earnings of $1.10 per share, above the $1.07 consensus, and revenue of $4.19 billion, up 23.9% year over year. Higher shipments and favorable price/mix contributed to the growth. Q3 earnings beat on higher volumes and favorable price/mix
• Positive Sentiment: Mizuho raised its price target to $75 and maintained an Outperform rating; Truist reiterated Buy with a $76 target. Mizuho price target Truist rating
• Neutral Sentiment: UBS raised its target from $63 to $68 but kept a Neutral rating. The reported analyst consensus target was $71.46, suggesting continued disagreement about the shares’ upside. Consensus price target
• Negative Sentiment: JPMorgan downgraded Ball from Overweight to Neutral and set a $65 target. Q3 coverage also flagged cost pressures and shrinking operating margins, despite the revenue and earnings beat. JPMorgan rating cut Q3 results and pre-market reaction

Institutional Trading of Ball

Hedge funds and other institutional investors have recently bought and sold shares of the business. Keybank National Association OH grew its stake in shares of Ball by 3.4% during the third quarter. Keybank National Association OH now owns 55,281 shares of the company's stock worth $3,097,000 after acquiring an additional 1,832 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Ball by 65.9% during the third quarter. New York Life Investment Management LLC now owns 119,558 shares of the company's stock valued at $6,699,000 after acquiring an additional 47,497 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Ball in the 3rd quarter valued at approximately $28,000. AlphaCore Capital LLC raised its position in shares of Ball by 58.8% in the 3rd quarter. AlphaCore Capital LLC now owns 8,816 shares of the company's stock valued at $494,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Ball by 117.5% in the 3rd quarter. Retirement Systems of Alabama now owns 121,674 shares of the company's stock valued at $6,817,000 after purchasing an additional 65,742 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company's stock.

Ball Stock Up 2.2%

The business's 50 day moving average is $61.27 and its 200 day moving average is $61.01. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.66 and a current ratio of 1.04.

Ball (NYSE:BALL - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. Ball had a net margin of 3.52% and a return on equity of 18.81%. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. Ball's revenue was up 23.9% compared to the same quarter last year. Sell-side analysts anticipate that Ball Corporation will post 3.93 earnings per share for the current year.

Ball Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 1st. Ball's payout ratio is presently 22.66%.

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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