Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) had its target price dropped by investment analysts at UBS Group from $4.25 to $2.75 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 1.10% from the company’s current price.
Several other equities research analysts also recently weighed in on AMBP. Wells Fargo & Company cut their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a report on Monday. Citigroup lowered their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Monday. Finally, Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and reduced their target price for the company from $4.90 to $4.00 in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.43.
Check Out Our Latest Report on AMBP
Ardagh Metal Packaging Stock Down 0.4 %
Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $0.06 earnings per share. Ardagh Metal Packaging’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ardagh Metal Packaging
A number of large investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in Ardagh Metal Packaging by 15,834.1% in the 3rd quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after purchasing an additional 5,072,769 shares during the period. King Street Capital Management L.P. purchased a new stake in shares of Ardagh Metal Packaging during the second quarter valued at $14,790,000. Squarepoint Ops LLC lifted its holdings in Ardagh Metal Packaging by 523.8% in the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after acquiring an additional 2,446,997 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Ardagh Metal Packaging by 37.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after buying an additional 489,146 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Ardagh Metal Packaging by 48.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock valued at $4,505,000 after purchasing an additional 433,700 shares during the period. 16.93% of the stock is currently owned by institutional investors.
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.
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