Ardagh Metal Packaging (NYSE:AMBP) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

AMBP has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft started coverage on Ardagh Metal Packaging in a report on Thursday, August 20th. They issued a “hold” rating and a $5.20 target price for the company. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday, July 24th. Wells Fargo & Company increased their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th. UBS Group raised their price objective on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and an average price target of $4.92.

Ardagh Metal Packaging Trading Down 1.2%

NYSE AMBP opened at $4.64 on Friday. The business’s 50 day moving average is $4.94 and its two-hundred day moving average is $4.46. Ardagh Metal Packaging has a 12-month low of $3.29 and a 12-month high of $5.47. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 77.43, a PEG ratio of 0.85 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.11 EPS 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 business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.08 EPS. The company’s quarterly revenue 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. Shareholders of record on Thursday, September 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Thursday, September 10th. Ardagh Metal Packaging’s payout ratio is presently 666.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Arini Captial Management Ltd acquired a new position in shares of Ardagh Metal Packaging during the 4th quarter worth $46,109,000. Dimensional Fund Advisors LP grew 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 valued at $18,779,000 after acquiring an additional 801,019 shares during the last quarter. Weiss Asset Management LP grew 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 valued at $18,291,000 after acquiring an additional 4,476,638 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ardagh Metal Packaging by 28.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,269,861 shares of the company’s stock valued at $13,243,000 after acquiring an additional 722,974 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Ardagh Metal Packaging by 31.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,894,210 shares of the company’s stock valued at $11,722,000 after acquiring an additional 699,478 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 (NYSE:AMBP) is a global supplier of sustainable, infinitely recyclable metal packaging. The company primarily manufactures beverage cans and ends for beer, soft drinks, energy drinks, sparkling water and other beverage products, serving branded consumer-goods companies, retailers and beverage producers.

The company operates production facilities across Europe, North America and Brazil. Its products are designed for a range of beverage formats and sizes, with a focus on lightweighting, recyclability and packaging solutions that support customers’ sustainability objectives.

Ardagh Metal Packaging was formed through the separation of Ardagh Group’s metal beverage packaging operations and became a publicly traded company in 2021 following a business combination with a special purpose acquisition company.