Ball Corporation (BLL) Stock Rating Lowered by Zacks Investment Research

Ball Corporation (NYSE:BLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Ball Corporation’s focus on accelerating actions to reap cost savings will drive results in 2018 and beyond. The company expects its aerospace segment’s earnings will be up year over year in each of the remaining quarters of 2017. The Brazilian government is taking action to stimulate their economy which will aid Ball Corporation’s performance in the second-half. Further, transformational actions including the recent closure of food-can production at its Springdale plant will help optimize plant network. However, issues in EMEA segment’s food can business and elevated expenses remain headwinds. Further, the company’s third quarter is a seasonally slow quarter. Moreover, the company has underperformed the Zacks categorized sub-industry year to date.”

Several other research analysts also recently commented on the company. Royal Bank Of Canada assumed coverage on Ball Corporation in a research note on Monday. They set an “outperform” rating and a $46.00 target price for the company. KeyCorp reiterated a “hold” rating on shares of Ball Corporation in a research note on Wednesday, October 4th. BidaskClub downgraded Ball Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Vertical Group reiterated a “hold” rating and set a $43.00 target price (up from $41.50) on shares of Ball Corporation in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $49.00 target price (down from $50.00) on shares of Ball Corporation in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Ball Corporation currently has a consensus rating of “Hold” and an average target price of $44.15.

Shares of Ball Corporation (NYSE:BLL) traded up 1.19% on Tuesday, hitting $42.56. The stock had a trading volume of 658,240 shares. The stock’s 50-day moving average price is $40.54 and its 200 day moving average price is $40.18. The company has a market cap of $14.97 billion, a PE ratio of 60.37 and a beta of 0.97. Ball Corporation has a 52 week low of $35.65 and a 52 week high of $43.06.

Ball Corporation (NYSE:BLL) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). Ball Corporation had a return on equity of 17.63% and a net margin of 1.70%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business’s revenue was up 40.6% compared to the same quarter last year. On average, analysts predict that Ball Corporation will post $2.04 EPS for the current year.

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In related news, SVP Lisa Ann Pauley sold 37,984 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $42.03, for a total value of $1,596,467.52. Following the completion of the sale, the senior vice president now directly owns 108,905 shares in the company, valued at approximately $4,577,277.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott C. Morrison sold 13,249 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $40.35, for a total value of $534,597.15. Following the completion of the sale, the vice president now owns 392,091 shares of the company’s stock, valued at $15,820,871.85. The disclosure for this sale can be found here. Insiders sold a total of 129,601 shares of company stock valued at $5,260,953 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLL. UBS Asset Management Americas Inc. raised its holdings in Ball Corporation by 9.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 455,651 shares of the industrial products company’s stock valued at $33,837,000 after acquiring an additional 40,797 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Ball Corporation by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 64,511 shares of the industrial products company’s stock valued at $4,790,000 after acquiring an additional 4,160 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Ball Corporation by 1.5% in the 1st quarter. OppenheimerFunds Inc. now owns 172,298 shares of the industrial products company’s stock valued at $12,795,000 after acquiring an additional 2,539 shares in the last quarter. Teachers Advisors LLC raised its holdings in Ball Corporation by 4.7% in the 1st quarter. Teachers Advisors LLC now owns 225,455 shares of the industrial products company’s stock valued at $16,742,000 after acquiring an additional 10,049 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Ball Corporation by 2.1% in the 1st quarter. Fifth Third Bancorp now owns 3,646 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

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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