Ardagh Metal Packaging (NYSE:AMBP) Rating Lowered to Hold at Wall Street Zen

Ardagh Metal Packaging (NYSE:AMBP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms also recently commented on AMBP. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday, July 24th. UBS Group boosted their price objective on Ardagh Metal Packaging from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Wells Fargo & Company increased their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ardagh Metal Packaging in a research note on Thursday. They set a “hold” rating and a $5.20 target price on the stock. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging has a consensus rating of “Hold” and an average price target of $4.92.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP opened at $5.36 on Friday. Ardagh Metal Packaging has a 12-month low of $3.29 and a 12-month high of $5.47. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 89.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. The firm has a 50 day moving average of $4.77 and a 200 day moving average of $4.43.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Ardagh Metal Packaging had a net margin of 0.68% and a negative return on equity of 27.93%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts predict that Ardagh Metal Packaging will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Hedge funds have recently made changes to their positions in the business. Arini Captial Management Ltd purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth about $46,109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ardagh Metal Packaging by 3.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,392,929 shares of the company’s stock worth $41,468,000 after purchasing an additional 323,790 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ardagh Metal Packaging by 8.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,791,368 shares of the company’s stock worth $27,845,000 after purchasing an additional 545,227 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ardagh Metal Packaging by 20.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock worth $18,779,000 after purchasing an additional 801,019 shares during the period. Finally, Weiss Asset Management LP boosted its stake in Ardagh Metal Packaging by 11,276.2% in the 1st quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock worth $18,291,000 after purchasing an additional 4,476,638 shares during the period. Institutional investors own 16.93% of the company’s stock.

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.