Citigroup Issues Pessimistic Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP) had its price target dropped by research analysts at Citigroup from $4.50 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 36.99% from the stock’s previous close.

Several other equities analysts have also issued reports on AMBP. Bank of America lowered 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. Wells Fargo & Company reduced their target price on shares of Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.65.

Ardagh Metal Packaging Price Performance

NYSE AMBP traded down $0.05 on Monday, hitting $2.92. 1,930,689 shares of the company were exchanged, compared to its average volume of 1,437,500. Ardagh Metal Packaging has a 1-year low of $2.91 and a 1-year high of $4.26. The firm has a 50 day moving average of $3.45 and a two-hundred day moving average of $3.55. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The company has a market cap of $1.74 billion, a P/E ratio of -24.33, a P/E/G ratio of 0.79 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly 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. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. Ardagh Metal Packaging’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several large investors have recently bought and sold shares of the company. Ballentine Partners LLC acquired a new position in shares of Ardagh Metal Packaging in the 3rd quarter valued at $42,000. Quarry LP acquired a new position in Ardagh Metal Packaging in the second quarter valued at about $45,000. nVerses Capital LLC grew its stake in Ardagh Metal Packaging by 70.4% in the third 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 during the period. Principal Financial Group Inc. raised its position 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 purchasing an additional 5,009 shares during the period. Finally, Signaturefd LLC raised its position in shares of Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after purchasing an additional 3,515 shares during the period. Institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

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.