Ardagh Metal Packaging (NYSE:AMBP) Raised to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. Wells Fargo & Company currently has $5.00 price objective on the stock, up from their prior price objective of $4.25.

Several other equities research analysts also recently commented on AMBP. Citigroup lifted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. UBS Group downgraded shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $5.00 to $3.75 in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and an average target price of $4.08.

Ardagh Metal Packaging Stock Up 4.3 %

NYSE:AMBP opened at $4.14 on Tuesday. The firm’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $3.66. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66. Ardagh Metal Packaging has a one year low of $2.57 and a one year high of $4.17. The company has a market cap of $2.47 billion, a PE ratio of -29.57, a P/E/G ratio of 0.79 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP) last posted its earnings results on Thursday, July 25th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.04 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.66%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is currently -285.71%.

Institutional Trading of Ardagh Metal Packaging

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC increased its stake 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 purchasing an additional 5,000 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Ardagh Metal Packaging by 3.1% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 477,958 shares of the company’s stock worth $1,802,000 after buying an additional 14,246 shares in the last quarter. Creative Planning boosted its position in Ardagh Metal Packaging by 170.1% in the third quarter. Creative Planning now owns 38,766 shares of the company’s stock worth $146,000 after purchasing an additional 24,414 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Ardagh Metal Packaging by 183.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 142,525 shares of the company’s stock worth $485,000 after buying an additional 92,325 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Ardagh Metal Packaging during the 2nd quarter valued at approximately $45,000. Institutional investors own 16.93% of the company’s stock.

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.