Wells Fargo & Company Reaffirms Equal Weight Rating for Ardagh Metal Packaging (NYSE:AMBP)

Ardagh Metal Packaging (NYSE:AMBP)‘s stock had its “equal weight” rating reaffirmed by Wells Fargo & Company in a research note issued on Thursday, MarketBeat.com reports. They currently have a $3.35 price target on the stock, down from their previous price target of $3.60. Wells Fargo & Company‘s price target indicates a potential upside of 19.86% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley upgraded Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Citigroup cut their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group lowered their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Bank of America lowered shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.37.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP opened at $2.80 on Thursday. The firm’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $3.50. Ardagh Metal Packaging has a fifty-two week low of $2.66 and a fifty-two week high of $4.26. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -23.29, a P/E/G ratio of 0.50 and a beta of 0.65.

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

Institutional Trading of Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC acquired a new position in Ardagh Metal Packaging during the third quarter worth $42,000. Quarry LP acquired a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth about $45,000. nVerses Capital LLC grew its holdings in shares of Ardagh Metal Packaging by 70.4% in 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. Signaturefd LLC increased its position in shares of Ardagh Metal Packaging by 23.1% in the third 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. Finally, Dark Forest Capital Management LP acquired a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth approximately $113,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Company Profile

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.