KeyBanc analyst Adam Josephson maintained a Hold rating on Ball Corp (BLL) today. The company’s shares opened today at $60, close to its 52-week high of $60.32.
Josephson observed:
“We are reducing our estimates; we have consistently been below BLL’s 2019 adj. EBITDA guidance, and we remain so. BLL is generating substantial cash flow and returning a great deal of it to shareholders, but there has been a recent divergence between the share price and earnings estimates; one is going up while the other down. the past 12 months, the consensus 2019 adj. EPS estimate has declined by 1.5% while the shares are up 61% (the S&P 500 is up just 13% over that period). We mainly attribute the divergence to investors’ enthusiasm about the recent surge in global beverage can growth and the hope of more to come. Given the general absence of top- line growth stories within U.S.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.2% and a 67.1% 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 $59.83.
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The company has a one-year high of $60.32 and a one-year low of $34.71. Currently, Ball Corp has an average volume of 2.16M.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock.
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Ball Corp. provides metal packaging for beverages, foods and household products. It operates through the following business segments: Beverage Packaging, North and Central America; Beverage Packaging, South America; Beverage Packaging, Europe; and Aerospace.
