Ardagh Metal Packaging (NYSE:AMBP) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ardagh Metal Packaging (NYSE:AMBP) in a research report released on Thursday morning, Marketbeat reports. The firm issued a hold rating and a $5.20 price target on the stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded Ardagh Metal Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. UBS Group increased their price objective on Ardagh Metal Packaging from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Citigroup reissued a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.92.

Ardagh Metal Packaging Trading Up 2.1%

AMBP opened at $5.36 on Thursday. The stock’s 50 day simple moving average is $4.77 and its 200-day simple moving average is $4.43. Ardagh Metal Packaging has a 1 year low of $3.29 and a 1 year high of $5.47. The stock has a market cap of $3.20 billion, a PE ratio of 89.35, a P/E/G ratio of 1.04 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company earned $0.08 EPS. Ardagh Metal Packaging’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts forecast that Ardagh Metal Packaging will post 0.28 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.5%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently 666.67%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Institutional investors have recently modified their holdings of the business. Arini Captial Management Ltd bought a new position in Ardagh Metal Packaging during the fourth quarter worth about $46,109,000. Weiss Asset Management LP boosted its holdings 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 valued at $18,291,000 after purchasing an additional 4,476,638 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Ardagh Metal Packaging by 603.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,357,953 shares of the company’s stock valued at $9,408,000 after purchasing an additional 2,022,889 shares during the period. Barclays PLC grew its position in shares of Ardagh Metal Packaging by 242.7% during the 3rd quarter. Barclays PLC now owns 1,834,361 shares of the company’s stock worth $7,319,000 after purchasing an additional 1,299,132 shares in the last quarter. Finally, Shellback Capital LP acquired a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth approximately $4,072,000. Institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

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.