In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Ball Corp (BLL). The company’s shares closed yesterday at $53.26, close to its 52-week high of $53.47.
Josephson noted:
“We are maintaining our 2019 adj. EBITDA estimate of $1.94 billion (guidance is $2 billion) and introducing a 2020 estimate of the same. For perspective on BLL’s 2019 EBITDA guidance, it implies substantial 9-10% growth following just ~4% growth in 2018. In addition, we expect the Company’s EBITDA to be down in 1Q19, so the guidance implies heady growth in the last three quarters.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.3% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Currently, the analyst consensus on Ball Corp is a Moderate Buy with an average price target of $56.83, representing a 6.7% upside. In a report issued on January 24, Morgan Stanley also initiated coverage with a Hold rating on the stock.
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Ball Corp’s market cap is currently $18.14B and has a P/E ratio of 40.97. The company has a Price to Book ratio of 4.98.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock.
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Ball Corp. provides metal packaging for beverages, foods and household products, and of aerospace and other technologies and services to commercial and governmental customers. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; Food and Aerosol Packaging; and Aerospace. The Beverage Packaging, North and Central America segment sold under multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks and other beverages. The Beverage Packaging, South America segment sales volumes of beverage containers in South America, and manufacture substantially all of the metal beverage containers in Brazil. The Beverage Packaging, Europe segment sales volumes of metal beverage containers in Europe, and other packaging materials used by the European beer and carbonated soft drink industries. The Food and Aerosol Packaging segment produces two-piece and three-piece steel food containers and ends for packaging vegetables, fruit, soups, meat, seafood, nutritional products, pet food and other products, and also manufactures and sells steel aerosol containers, as well as extruded aluminum aerosol containers and aluminum slugs. The Aerospace segment provides diversified technical services and products to government agencies, prime contractors and commercial organizations for a broad range of information warfare, electronic warfare, avionics, intelligence, training and space system needs. The company was founded by Edmund Burke Ball, Frank Clayton Ball, George A. Ball, Lucius Lorenzo Ball and William Charles Ball in 1880 and is headquartered in Broomfield, CO.
