Market Analysts see Ball Corporation [BALL] falling to $58. Time to buy?

Ball Corporation [NYSE: BALL] loss -1.32% or -0.81 points to close at $60.49 with a heavy trading volume of 2124457 shares. The company report on August 4, 2022 that Ball Announces Second Quarter 2022 Results and Rephasing of Certain Growth Capital Projects.


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Highlights.

Second quarter U.S. GAAP loss per diluted share of 55 cents vs. earnings per diluted share of 61 cents in 2021; company recorded non-cash, long-lived asset impairment for Russian operations during second quarter of 2022.

It opened the trading session at $61.50, the shares rose to $61.575 and dropped to $60.08, the range by which the price of stock traded the whole day. The daily chart for BALL points out that the company has recorded -31.14% loss over the past six months. However, it is still -10.44% lower than its most recent low trading price.

If we look at the average trading volume of 2.35M shares, BALL reached to a volume of 2124457 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ball Corporation [BALL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BALL shares is $65.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BALL stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Ball Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 08, 2022. While these analysts kept the previous recommendation, Deutsche Bank dropped their target price from $81 to $65. The new note on the price target was released on August 05, 2022, representing the official price target for Ball Corporation stock. Previously, the target price had yet another drop from $80 to $58, while Atlantic Equities kept a Neutral rating on BALL stock.

The Average True Range (ATR) for Ball Corporation is set at 2.06, with the Price to Sales ratio for BALL stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 5.53, with the Price to Cash per share for the same quarter was set at 1.53.

Trading performance analysis for BALL stock

Ball Corporation [BALL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.98. With this latest performance, BALL shares dropped by -16.40% in over the last four-week period, additionally sinking by -31.14% over the last 6 months – not to mention a drop of -36.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BALL stock in for the last two-week period is set at 41.55, with the RSI for the last a single of trading hit 42.10, and the three-weeks RSI is set at 41.59 for Ball Corporation [BALL]. The present Moving Average for the last 50 days of trading for this stock 66.18, while it was recorded at 61.05 for the last single week of trading, and 81.82 for the last 200 days.

Ball Corporation [BALL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ball Corporation [BALL] shares currently have an operating margin of +8.84 and a Gross Margin at +14.59. Ball Corporation’s Net Margin is presently recorded at +6.30.

Return on Equity for this stock inclined to 25.44, with Return on Assets sitting at 4.63.

Ball Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.00.

Ball Corporation [BALL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BALL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ball Corporation go to 7.76%.

An analysis of insider ownership at Ball Corporation [BALL]

There are presently around $16,104 million, or 92.30% of BALL stock, in the hands of institutional investors. The top three institutional holders of BALL stocks are: VANGUARD GROUP INC with ownership of 35,484,190, which is approximately 0.421% of the company’s market cap and around 0.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 27,295,137 shares of the stock with an approximate value of $1.65 billion in BALL stocks shares; and BLACKROCK INC., currently with $1.55 billion in BALL stock with ownership of nearly -0.198% of the company’s market capitalization.

Positions in Ball Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 332 institutional holders increased their position in Ball Corporation [NYSE:BALL] by around 19,578,151 shares. Additionally, 371 investors decreased positions by around 21,135,487 shares, while 119 investors held positions by with 225,519,525 shares. The mentioned changes placed institutional holdings at 266,233,163 shares, according to the latest SEC report filing. BALL stock had 67 new institutional investments in for a total of 5,716,417 shares, while 122 institutional investors sold positions of 3,979,327 shares during the same period.

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