Analysts Update Their Price Forecasts For Ball Corp. (BALL)

T. Rowe Price Investment Manageme has recently announced that it has increased stake in Ball Corp. (NYSE:BALL) by 2.72%. After grabbing 17.81 million shares, the institutional investor is now in possession of 0.47 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 5.65% having worth around $857.72 million. Moreover, BlackRock Fund Advisors increased its share by 0.14 million to have a control over 15.31 million shares. And Geode Capital Management LLC raised its holdings to 0.13 million shares by acquiring 6.75 million shares or 2.14% of the stake.

Ball Corp. (BALL) concluded trading on 12/07/23 at a closing price of $57.21, with 2.49 million shares of worth about $142.2 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.50% during that period and on Thursday the price saw a loss of about -0.26%. Currently the company’s common shares owned by public are about 314.11M shares, out of which, 313.32M shares are available for trading.

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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the BALL stock and their offered price forecasts bring an average price target of $56.65. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $75.00 and could fall to a lowest price of $46.00. The stock’s current price level is -0.99% below of average price target set by the analysts, while a dip to estimated low would result in loss of -24.37% for the stock. However, touching the estimated high of $75.00 would mean a gain of 23.72% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 23 times over the past 12 months. They bought 23,437 shares in 14 of the transactions. In 9 selling transactions, insiders dumped 106,982 shares.

Parnassus Core Equity Fund, Vanguard Total Stock Market ETF, and T Rowe Price Mid Cap Growth Fund are the top 3 mutual funds which are holding stakes in Ball Corp. Parnassus Core Equity Fund is currently holding 11.53 million shares of worth totaling $555.3 million. The company recently came selling -0.27 million shares which brought its stake up to 3.66% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 54213.0 shares, after which its hold over company’s outstanding shares expand to 3.14%, leaving 9.88 million shares with the mutual fund that have a worth of about $475.57 million. T Rowe Price Mid Cap Growth Fund, after buying 8.75 million shares, have now control over 2.78% of the stake in the company. It holds 0.2 million shares of worth $421.31 million.

Ball Corp. (NYSE: BALL) started trading at $57.46, above $0.1 from concluding price of the previous day. Stock saw a price change of 3.47% in past 5 days and over the past one month there was a price change of 14.19%. Year-to-date (YTD), BALL shares are showing a performance of 11.87% which increased to 4.40% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $42.81 but also hit the highest price of $62.14 during that period. The average intraday trading volume for Ball Corp. shares is 2.18 million. The stock is currently trading 7.70% above its 20-day simple moving average (SMA20), while that difference is up 15.65% for SMA50 and it goes to 7.48% higher than SMA200.

T. Rowe Price Investment Manageme acquired 17.81 million shares of Ball Corp. having value of about $857.72 million. Data submitted at the U.S SEC by T. Rowe Price Investment Manageme revealed that the firm now holds 0.47 million shares in the company valued at close to $26939273.64, or have control over 2.72% stake in the company. Ball Corp. (NYSE: BALL) currently have 314.11M outstanding shares and institutions hold larger chunk of about 87.25% of that. Holding of mutual funds in the company is about 5.48% while other institutional holders and individual stake holders have control over 54.82% and 32.94% of the stake respectively.

The stock has a current market capitalization of $18.04B and its 3Y-monthly beta is at 0.89. PE ratio of stock for trailing 12 months is 29.82, while it has posted earnings per share of $1.92 in the same period. Its PEG reads 9.62 and has Quick Ratio of 0.55 while making debt-to-equity ratio of 2.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BALL, volatility over the week remained 2.24% while standing at 2.13% over the month.

Analysts are in expectations that Ball Corp. (BALL) stock would likely to be making an EPS of $0.76 in the current quarter, while forecast for next quarter EPS is $0.71 and it is $3.1 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.64 which is $0.82 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 3.09% while it is estimated to increase by 9.43% in next year. EPS is likely to shrink at an annualized rate of 3.10% for next 5-years, compared to annual growth of 16.43% made by the stock over the past 5-years.

Analysts at 15 brokerage firms have issued recommendations for the Ball Corp. (BALL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.33. Out of those 15 Wall Street analysts, 4 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on October 11, 2023 offering an Overweight rating for the stock and assigned a target price range of between $61 and $59 to it.

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