This trade activity should not be overlooked: Ball Corporation (BALL)

Ball Corporation (NYSE: BALL) stock fell -18.58% on Friday to $59.28 against a previous-day closing price of $72.81. With 8.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.23 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $67.00 whereas the lowest price it dropped to was $58.67. The 52-week range on BALL shows that it touched its highest point at $98.09 and its lowest point at $62.90 during that stretch. It currently has a 1-year price target of $83.94. With its current market cap of 18.68 billion, BALL has annualized dividend of $0.80 while the current yield stands at 1.35%. Beta for the stock currently stands at 0.56.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BALL was down-trending over the past week, with a drop of -19.41%, but this was down by -17.03% over a month. Three-month performance dropped to -28.77% while six-month performance fell -37.24%. The stock lost -24.99% in the past year, while it has lost -38.42% so far this year. A look at the trailing 12-month EPS for BALL yields 3.38 with Next year EPS estimates of 4.42. For the next quarter, that number is 0.90. This implies an EPS growth rate of 55.20% for this year and 15.98% for next year. EPS is expected to grow by 10.12% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 26.20%.

Float and Shares Shorts:

At present, 320.90 million BALL shares are outstanding with a float of 316.57 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.73 million, which was 2.73% higher than short shares on Jun 14, 2022. In addition to Mr. Daniel William Fisher as the firm’s Pres, Director & CEO, Mr. Scott C. Morrison serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 90.92% of BALL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.74% of BALL, in contrast to 5.36% held by mutual funds. Shares owned by individuals account for 33.56%. As the largest shareholder in BALL with 10.67% of the stake, The Vanguard Group, Inc. holds 34,106,466 shares worth 34,106,466. A second-largest stockholder of BALL, T. Rowe Price Associates, Inc., holds 23,272,485 shares, controlling over 7.28% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BALL, holding 16,103,055 shares or 5.04% stake. With a 2.95% stake in BALL, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 9,430,167 shares are owned by the mutual fund manager. The T Rowe Price Mid Cap Growth Fund, which owns about 2.71% of BALL stock, is the second-largest Mutual Fund holder. It holds 8,650,000 shares valued at 594.86 million. Parnassus Core Equity Fund holds 2.40% of the stake in BALL, owning 7,665,093 shares worth 527.13 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BALL since 20 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BALL analysts setting a high price target of $108.00 and a low target of $65.00, the average target price over the next 12 months is $83.71. Based on these targets, BALL could surge 82.19% to reach the target high and rise by 9.65% to reach the target low. Reaching the average price target will result in a growth of 41.21% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BALL will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $3.91 being high and $3.35 being low. For BALL, this leads to a yearly average estimate of $3.77. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ball Corporation surprised analysts by -$0.08 when it reported $0.82 EPS against a consensus estimate of $0.90. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is $0.99 and the low estimate is $0.83. The average estimate for the next quarter is thus $0.90.

Summary of Insider Activity:

Insiders traded BALL stock several times over the past three months with 3 Buys and 4 Sells. In these transactions, 15,456 shares were bought while 5,851 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 684,811 while 522,178 shares were sold.

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