StockNews.com Begins Coverage on Ball (NYSE:BLL)

StockNews.com assumed coverage on shares of Ball (NYSE:BLLGet Rating) in a research note published on Sunday morning. The firm issued a sell rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on BLL. Bank of America upgraded Ball from a neutral rating to a buy rating and raised their target price for the stock from $103.00 to $108.00 in a report on Monday, March 7th. Barclays reduced their target price on Ball from $95.00 to $80.00 in a report on Monday, May 9th. TheStreet cut Ball from a b rating to a c+ rating in a report on Thursday, May 5th. Mizuho boosted their target price on Ball from $102.00 to $105.00 and gave the company a neutral rating in a research note on Friday, January 28th. Finally, Citigroup cut their target price on Ball from $104.00 to $96.00 in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ball has an average rating of Hold and an average target price of $99.33.

Shares of BLL stock opened at $69.49 on Friday. The stock has a 50-day moving average price of $86.55 and a 200 day moving average price of $90.10. The company has a quick ratio of 0.58, a current ratio of 0.97 and a debt-to-equity ratio of 2.09. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 3.61 and a beta of 0.55. Ball has a 12 month low of $69.10 and a 12 month high of $98.09.

Ball (NYSE:BLLGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The industrial products company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.52 billion. Ball had a return on equity of 30.95% and a net margin of 7.80%. Ball’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Sell-side analysts predict that Ball will post 3.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. Ball’s payout ratio is 23.39%.

In related news, President Daniel William Fisher bought 7,000 shares of the business’s stock in a transaction dated Thursday, March 10th. The stock was purchased at an average cost of $85.86 per share, for a total transaction of $601,020.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Betty J. Sapp acquired 1,362 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were acquired at an average price of $85.55 per share, with a total value of $116,519.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 15,862 shares of company stock valued at $1,381,499. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in BLL. Parnassus Investments LLC bought a new stake in shares of Ball during the 3rd quarter worth $817,766,000. Norges Bank acquired a new position in Ball in the 4th quarter worth about $215,303,000. Morgan Stanley increased its holdings in Ball by 30.7% in the 3rd quarter. Morgan Stanley now owns 7,283,297 shares of the industrial products company’s stock worth $655,277,000 after purchasing an additional 1,709,694 shares in the last quarter. Schf GPE LLC bought a new stake in Ball in the third quarter valued at approximately $82,568,000. Finally, TD Asset Management Inc. boosted its stake in shares of Ball by 91.0% in the 4th quarter. TD Asset Management Inc. now owns 1,683,245 shares of the industrial products company’s stock valued at $162,046,000 after purchasing an additional 801,999 shares during the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.

About Ball (Get Rating)

Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

Read More

Analyst Recommendations for Ball (NYSE:BLL)

Receive News & Ratings for Ball Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ball and related companies with MarketBeat.com's FREE daily email newsletter.