Citigroup Raises Ball (NYSE:BLL) Price Target to $81.00

Ball (NYSE:BLL) had its price target raised by Citigroup from $69.00 to $81.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the company. Vertical Research lowered Ball from a hold rating to a sell rating in a research note on Monday, July 8th. KeyCorp reaffirmed a hold rating on shares of Ball in a research note on Thursday, May 2nd. Morgan Stanley reaffirmed a top pick rating on shares of in a research note on Wednesday, June 5th. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Snc-Lavalin Group in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $58.01.

Shares of BLL stock opened at $70.00 on Thursday. The business’s fifty day simple moving average is $66.51. The company has a quick ratio of 0.77, a current ratio of 1.09 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $23.43 billion, a PE ratio of 32.11, a PEG ratio of 4.87 and a beta of 0.81. Ball has a 52 week low of $37.24 and a 52 week high of $72.34.

Ball (NYSE:BLL) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Ball had a return on equity of 20.39% and a net margin of 3.83%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $0.50 EPS. Ball’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts forecast that Ball will post 2.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.15 dividend. The ex-dividend date was Friday, May 31st. This is a boost from Ball’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.86%. Ball’s payout ratio is currently 27.27%.

In other Ball news, Chairman John A. Hayes sold 9,111 shares of Ball stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.66, for a total value of $561,784.26. Following the completion of the transaction, the chairman now directly owns 472,141 shares of the company’s stock, valued at approximately $29,112,214.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John A. Hayes sold 9,247 shares of Ball stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $65.19, for a total value of $602,811.93. Following the completion of the transaction, the chairman now directly owns 439,485 shares of the company’s stock, valued at $28,650,027.15. The disclosure for this sale can be found here. Insiders sold a total of 42,078 shares of company stock valued at $2,746,288 over the last ninety days. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Partners LLC increased its stake in shares of Ball by 3.5% in the 1st quarter. Advisor Partners LLC now owns 5,680 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 191 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in shares of Ball by 7.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,422 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 381 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Ball by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 156,110 shares of the industrial products company’s stock valued at $10,926,000 after purchasing an additional 428 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Ball by 281.1% in the 4th quarter. Global Retirement Partners LLC now owns 644 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 475 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of Ball in the 1st quarter valued at $30,000. 82.13% of the stock is owned by hedge funds and other institutional investors.

Ball Company Profile

Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace.

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