Look For Institutional Buying In Ball Corp. (NYSE: BALL)

Ball Corp. (BALL) concluded trading on Thursday at a closing price of $64.54, with 3.06 million shares of worth about $197.17 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.39% during that period and on August 01, 2024 the price saw a gain of about 1.11%. Currently the company’s common shares owned by public are about 315.69M shares, out of which, 308.54M shares are available for trading.

Stock saw a price change of 4.01% in past 5 days and over the past one month there was a price change of 8.09%. Year-to-date (YTD), BALL shares are showing a performance of 12.20% which increased to 11.12% 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 $71.32 during that period. The average intraday trading volume for Ball Corp. shares is 1.98 million. The stock is currently trading 5.06% above its 20-day simple moving average (SMA20), while that difference is up 0.68% for SMA50 and it goes to 6.67% higher than SMA200.

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Ball Corp. (NYSE: BALL) currently have 315.69M outstanding shares and institutions hold larger chunk of about 88.48% of that.

The stock has a current market capitalization of $20.03B and its 3Y-monthly beta is at 0.85. It has posted earnings per share of -$1.54 in the same period. It has Quick Ratio of 0.93 while making debt-to-equity ratio of 0.84. 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 2.73% while standing at 2.04% over the month.

Stock’s fiscal year EPS is expected to rise by 4.98% while it is estimated to increase by 14.34% in next year. EPS is likely to shrink at an annualized rate of 10.10% for next 5-years, compared to annual growth of 11.57% made by the stock over the past 5-years.

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 Truist on June 25, 2024 offering a Buy rating for the stock and assigned a target price range of between $67 and $76 to it. Coverage by Barclays stated Ball Corp. (BALL) stock as an Equal weight in their note to investors on April 04, 2024, suggesting a price target of $71 for the stock. On March 27, 2024, Citigroup Resumed their recommendations, while on March 18, 2024, Morgan Stanley Initiated their ratings for the stock with a price target of $68. Stock get a Buy rating from BofA Securities on March 04, 2024.

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