Wells Fargo & Company Forecasts Strong Price Appreciation for Ardagh Metal Packaging (NYSE:AMBP) Stock

Ardagh Metal Packaging (NYSE:AMBP) had its price objective hoisted by research analysts at Wells Fargo & Company from $4.00 to $5.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 13.25% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. UBS Group reduced their target price on Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating on the stock in a report on Friday, April 10th. Weiss Ratings upgraded Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Citigroup reduced their price objective on Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.71.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock opened at $4.42 on Wednesday. Ardagh Metal Packaging has a one year low of $3.29 and a one year high of $5.03. The company has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.29. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. Ardagh Metal Packaging had a net margin of 0.19% and a negative return on equity of 31.14%. The company had revenue of $1.50 billion for the quarter. As a group, equities analysts forecast that Ardagh Metal Packaging will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Ardagh Metal Packaging by 697.8% in the 1st quarter. AQR Capital Management LLC now owns 317,625 shares of the company’s stock worth $959,000 after buying an additional 277,813 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ardagh Metal Packaging during the first quarter worth about $43,000. Creative Planning acquired a new position in shares of Ardagh Metal Packaging in the second quarter worth about $109,000. JPMorgan Chase & Co. boosted its holdings in Ardagh Metal Packaging by 310.1% in the second quarter. JPMorgan Chase & Co. now owns 729,506 shares of the company’s stock valued at $3,122,000 after purchasing an additional 551,616 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Ardagh Metal Packaging during the 2nd quarter valued at approximately $224,000. 16.93% of the stock is owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.