The stock of Ball Corporation (NYSE:BLL) gapped up by $0.32 today and has $101.50 target or 28.00% above today’s $79.30 share price. The 7 months technical chart setup indicates low risk for the $13.80 billion company. The gap was reported on Oct, 14 by Barchart.com. If the $101.50 price target is reached, the company will be worth $3.86 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 350,465 shares traded hands. Ball Corporation (NYSE:BLL) has risen 13.88% since March 11, 2016 and is uptrending. It has outperformed by 8.42% the S&P500.
Analysts await Ball Corporation (NYSE:BLL) to report earnings on November, 3. They expect $0.91 earnings per share, down 17.27% or $0.19 from last year’s $1.1 per share. BLL’s profit will be $158.36M for 21.79 P/E if the $0.91 EPS becomes a reality. After $1.05 actual earnings per share reported by Ball Corporation for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.
Ball Corporation (NYSE:BLL) Ratings Coverage
Out of 7 analysts covering Ball Corporation (NYSE:BLL), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Ball Corporation has been the topic of 12 analyst reports since October 15, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, December 9 by Jefferies. As per Friday, July 29, the company rating was initiated by Citigroup. The stock of Ball Corporation (NYSE:BLL) earned “Equal-Weight” rating by Barclays Capital on Thursday, July 14. Vertical Research downgraded Ball Corporation (NYSE:BLL) on Friday, August 5 to “Hold” rating. As per Friday, August 5, the company rating was maintained by Citigroup. As per Tuesday, November 10, the company rating was upgraded by Macquarie Research. The firm has “Buy” rating by Jefferies given on Friday, August 5. As per Thursday, December 3, the company rating was upgraded by Wells Fargo. The rating was upgraded by JP Morgan to “Overweight” on Thursday, March 31.
According to Zacks Investment Research, “Ball is a manufacturer of metal and plastic packaging, primarily for beverages and foods, and a supplier of aerospace and other technologies and services to commercial and governmental customers.”
Insitutional Activity: The institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.43, from 1.03 in 2016Q1. The ratio improved, as 36 funds sold all Ball Corporation shares owned while 104 reduced positions. 45 funds bought stakes while 159 increased positions. They now own 129.58 million shares or 10.47% more from 117.30 million shares in 2016Q1.
Blackrock Inv Ltd Limited Liability Company accumulated 358,919 shares or 0.03% of the stock. State Of Wisconsin Inv Board accumulated 0.02% or 70,393 shares. Seven Eight Limited Liability holds 1,407 shares or 0.04% of its portfolio. Gateway Advisers Ltd Liability Corporation last reported 9,470 shares in the company. Great West Life Assurance Can holds 101,369 shares or 0.03% of its portfolio. Moreover, Kcg has 0.04% invested in Ball Corporation (NYSE:BLL) for 26,407 shares. Delta Cap Mgmt Ltd Com has invested 0.21% of its portfolio in Ball Corporation (NYSE:BLL). Oregon Public Employees Retirement Fund owns 30,357 shares or 0.05% of their US portfolio. Parkside Bank & Trust Trust, a Missouri-based fund reported 37 shares. Moreover, Exxonmobil Inv Mgmt Tx has 0.07% invested in Ball Corporation (NYSE:BLL) for 45,028 shares. Moreover, Euclid Advsr Ltd Llc has 0.02% invested in Ball Corporation (NYSE:BLL) for 6,820 shares. Amp Capital Investors last reported 40,611 shares in the company. Seven Locks Cap Management L P holds 189,448 shares or 7.46% of its portfolio. Paloma, a Connecticut-based fund reported 9,445 shares. First Tru Lp holds 37,888 shares or 0.01% of its portfolio.
Insider Transactions: Since May 2, 2016, the stock had 14 buys, and 3 sales for $2.16 million net activity. The insider Mariani Pedro Henrique bought $240,540. NELSON GEORGIA R had bought 3,000 shares worth $240,909. $309,145 worth of Ball Corporation (NYSE:BLL) shares were sold by Peterson James N. On Tuesday, August 9 HEINRICH DANIEL J bought $242,190 worth of the stock or 3,000 shares. Alspaugh Robert W bought $237,798 worth of Ball Corporation (NYSE:BLL) on Monday, August 8. On Friday, May 6 FIEDLER HANNO C bought $502,390 worth of the stock or 7,000 shares. SMART GEORGE M had bought 3,000 shares worth $240,433 on Friday, August 12.
More recent Ball Corporation (NYSE:BLL) news were published by: Prnewswire.com which released: “Ball Corporation Reaches Agreement to Sell Baltimore Specialty Tin Plant” on September 26, 2016. Also Zacks.com published the news titled: “Ball Corporation (BLL) to Sell Baltimore Specialty Tin Plant” on September 27, 2016. Businesswire.com‘s news article titled: “The Growler Station® Expands Product Portfolio with Ball Corporation CROWLER …” with publication date: September 28, 2016 was also an interesting one.
BLL Company Profile
Ball Corporation (Ball), incorporated on December 19, 1922, is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. The Firm operates in four divisions: metal beverage packaging, Americas and Asia; metal beverage packaging, Europe; metal food and household products packaging, and aerospace and technologies. The Company’s product lines include aluminum and steel beverage containers. The Firm also produces steel food, aerosol, paint, general line and decorative specialty containers, as well as extruded aluminum aerosol and beverage containers and aluminum slugs. The Firm sells its packaging products to multinational beverage, food, personal care and household products companies. The Company’s aerospace business is engaged in the designing, development and manufacturing of aerospace systems for civil, commercial and national security aerospace markets. It produces spacecraft, instruments and sensors, radio frequency systems and components, data exploitation solutions and a range of aerospace technologies and products.
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