Monthly Stock Report: Ball Corporation (BALL)
Publication Date: September 22, 2024
Company Overview
Ball Corporation (NYSE: BALL), headquartered in Westminster, Colorado, is a leading supplier of aluminum packaging products optimized for the beverage, personal care, and household product industries. Established in 1880, the company produces aluminum containers for a variety of beverages, including carbonated soft drinks, beer, and energy drinks, as well as extruded aluminum aerosol containers and recloseable aluminum bottles. As a key player in the Consumer Cyclical sector, specifically within the Metal, Glass & Plastic Containers sub-industry, Ball Corporation has been publicly traded since October 31, 1984.
With total revenues reaching approximately $13.81 billion, the Packaging & Containers industry is poised for growth, supported by a robust financial foundation. This environment has prompted a “buy” recommendation from analysts, indicating favorable investment potential.
Stock Performance and Analysis
Ball Corporation’s current stock price stands at $66.31, showcasing significant upside potential against a target high price of $83.00 and a target mean price of $72.46. The stock’s fifty-two week trading range has seen a high of $71.32 and a low of $42.81, representing a relatively healthy positioning within the market. Additionally, the fifty-day moving average price is $63.64, highlighting bullish momentum as the current stock price exceeds this average.
The short interest in the stock registers at approximately 2.31%, or 6,130,353 shares out of a float of 301,458,679, suggesting a generally positive sentiment among investors. Overall, market analysts provide a consensus view with an average recommendation mean of 2.3, signaling optimism concerning Ball Corporation’s potential for growth in the evolving consumer landscape.
Market Outlook
The Packaging & Containers industry is not only demonstrating resilience but is also benefiting from a global shift toward sustainable and innovative packaging solutions. Analysts project ongoing consumer trends favoring environmentally friendly products will further enhance market demand, thereby solidifying Ball Corporation’s standing as a competitive entity in this sector. With a diverse set of insights from various analysts converging on a bullish sentiment, Ball Corporation represents a compelling investment opportunity for those seeking exposure in the growing landscape of sustainable packaging.
Overall, Ball Corporation’s stock is equipped with solid fundamentals, supportive analyst forecasts, and a growing market, making it a wise consideration for potential investors looking to capitalize on this positive trajectory.
| Metric | Value |
|---|---|
| Market Cap | $20.1b |
| Total Debt | $6.1b |
| Total Cash | $1.4b |
| Shares Outstanding | 303.6m |
| Float Shares | 301.5m |
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