Bank of America Upgrades Ardagh Metal Packaging (NYSE:AMBP) to Buy

Bank of America upgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from an underperform rating to a buy rating in a report released on Thursday, Marketbeat reports. They currently have $5.10 price objective on the stock, up from their previous price objective of $3.80.

A number of other research firms also recently weighed in on AMBP. UBS Group downgraded Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $3.75 in a research report on Wednesday, July 17th. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $4.25 to $5.00 in a report on Tuesday. Finally, Citigroup upped their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.08.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP opened at $4.14 on Thursday. Ardagh Metal Packaging has a 12 month low of $2.57 and a 12 month high of $4.17. The company has a market cap of $2.47 billion, a P/E ratio of -29.57, a P/E/G ratio of 0.79 and a beta of 0.62. The business’s 50 day moving average is $3.61 and its two-hundred day moving average is $3.66. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Ardagh Metal Packaging’s revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.66%. The ex-dividend date was Thursday, September 12th. Ardagh Metal Packaging’s dividend payout ratio is -285.71%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMBP. Price T Rowe Associates Inc. MD boosted its stake in shares of Ardagh Metal Packaging by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the company’s stock valued at $113,000 after purchasing an additional 4,922 shares in the last quarter. nVerses Capital LLC grew its stake in Ardagh Metal Packaging by 70.4% during the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after buying an additional 5,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 buying an additional 5,009 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Ardagh Metal Packaging by 33.2% in the first quarter. HB Wealth Management LLC now owns 32,228 shares of the company’s stock valued at $111,000 after acquiring an additional 8,026 shares during the last quarter. Finally, Keeley Teton Advisors LLC boosted its holdings in shares of Ardagh Metal Packaging by 0.5% in the 1st quarter. Keeley Teton Advisors LLC now owns 1,695,498 shares of the company’s stock worth $5,816,000 after acquiring an additional 8,433 shares in the last quarter. 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.