Barclays PLC Increases Ball Corporation (BLL) Price Target to $42.00

Ball Corporation (NYSE:BLL) had its target price boosted by equities researchers at Barclays PLC from $40.00 to $42.00 in a research note issued to investors on Monday, August 7th. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays PLC’s price target points to a potential upside of 4.69% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Ball Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Zacks Investment Research raised shares of Ball Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, July 4th. BidaskClub raised shares of Ball Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 price target on shares of Ball Corporation in a report on Sunday, June 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $47.00 price target (up previously from $44.00) on shares of Ball Corporation in a report on Tuesday, July 18th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.05.

Shares of Ball Corporation (NYSE BLL) traded down 0.37% during midday trading on Monday, reaching $40.12. The company’s stock had a trading volume of 2,245,830 shares. Ball Corporation has a 12 month low of $35.65 and a 12 month high of $43.06. The company has a market cap of $14.11 billion, a PE ratio of 56.91 and a beta of 0.95. The company’s 50-day moving average price is $41.64 and its 200-day moving average price is $39.24.

Ball Corporation (NYSE:BLL) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Ball Corporation had a net margin of 1.70% and a return on equity of 17.63%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities analysts anticipate that Ball Corporation will post $2.03 EPS for the current fiscal year.

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In other news, COO Daniel William Fisher sold 1,750 shares of Ball Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total transaction of $73,097.50. Following the completion of the sale, the chief operating officer now owns 11,594 shares of the company’s stock, valued at $484,281.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R David Hoover sold 10,000 shares of Ball Corporation stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $40.22, for a total transaction of $402,200.00. Following the sale, the director now directly owns 183,260 shares of the company’s stock, valued at approximately $7,370,717.20. The disclosure for this sale can be found here. In the last three months, insiders sold 108,903 shares of company stock valued at $4,499,930. 2.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of BLL. Baird Financial Group Inc. bought a new stake in Ball Corporation during the first quarter valued at $201,000. Geode Capital Management LLC raised its stake in shares of Ball Corporation by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,637,759 shares of the industrial products company’s stock worth $121,443,000 after buying an additional 140,259 shares during the period. Credit Agricole S A raised its stake in shares of Ball Corporation by 17.4% in the first quarter. Credit Agricole S A now owns 103,163 shares of the industrial products company’s stock worth $7,662,000 after buying an additional 15,280 shares during the period. CWM LLC acquired a new position in Ball Corporation during the first quarter worth about $4,529,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Ball Corporation by 30.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,957 shares of the industrial products company’s stock worth $591,000 after buying an additional 1,877 shares in the last quarter. 53.01% of the stock is owned by hedge funds and other institutional investors.

Ball Corporation Company Profile

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.

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