Ardagh Metal Packaging (NYSE:AMBP) Given New $3.60 Price Target at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP) had its price objective reduced by Wells Fargo & Company from $5.00 to $3.60 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

AMBP has been the topic of a number of other reports. Citigroup raised their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their price target for the company from $4.90 to $4.00 in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.65.

Ardagh Metal Packaging Stock Performance

NYSE AMBP opened at $2.91 on Monday. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $1.74 billion, a P/E ratio of -24.25, a P/E/G ratio of 0.79 and a beta of 0.65. The stock has a 50-day moving average of $3.43 and a two-hundred day moving average of $3.54. Ardagh Metal Packaging has a 1-year low of $2.89 and a 1-year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 13.75%. Ardagh Metal Packaging’s dividend payout ratio is currently -333.33%.

Institutional Trading of Ardagh Metal Packaging

A number of institutional investors have recently added to or reduced their stakes in AMBP. Janney Montgomery Scott LLC increased its position in shares of Ardagh Metal Packaging by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock valued at $2,420,000 after buying an additional 3,290 shares in the last quarter. Signaturefd LLC grew its stake in Ardagh Metal Packaging by 23.1% in the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after acquiring an additional 3,515 shares during the last quarter. nVerses Capital LLC increased its holdings in Ardagh Metal Packaging by 70.4% during the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $46,000 after acquiring an additional 5,000 shares in the last quarter. Principal Financial Group Inc. raised its position in Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after acquiring an additional 5,009 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Ardagh Metal Packaging by 17.8% in the third quarter. US Bancorp DE now owns 39,978 shares of the company’s stock valued at $151,000 after purchasing an additional 6,031 shares in the last quarter. Hedge funds and other institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.