Ardagh Metal Packaging’s (AMBP) Equal Weight Rating Reiterated at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP)‘s stock had its “equal weight” rating reiterated by research analysts at Wells Fargo & Company in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $3.35 price target on the stock, down from their prior price target of $3.60. Wells Fargo & Company‘s price objective points to a potential upside of 17.96% from the company’s previous close.

Several other research firms also recently weighed in on AMBP. Bank of America downgraded shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their target price for the company from $4.90 to $4.00 in a report on Wednesday, December 11th. UBS Group reduced their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Morgan Stanley upgraded Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $3.60 to $3.10 in a report on Monday. Finally, Citigroup cut their price target on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.37.

Ardagh Metal Packaging Stock Up 2.5 %

Shares of NYSE AMBP opened at $2.84 on Thursday. The firm has a 50-day moving average price of $3.32 and a 200 day moving average price of $3.51. Ardagh Metal Packaging has a 52 week low of $2.66 and a 52 week high of $4.26. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -23.66, a price-to-earnings-growth ratio of 0.50 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. Equities research analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMBP. Bank of New York Mellon Corp boosted its position in shares of Ardagh Metal Packaging by 58.9% in the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock worth $1,677,000 after acquiring an additional 182,906 shares during the last quarter. Rhumbline Advisers increased its position in Ardagh Metal Packaging by 11.5% during the second quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock worth $563,000 after purchasing an additional 17,104 shares during the last quarter. American Century Companies Inc. raised its stake in Ardagh Metal Packaging by 14.3% during the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock worth $732,000 after purchasing an additional 26,865 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ardagh Metal Packaging by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock valued at $2,550,000 after purchasing an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Ardagh Metal Packaging by 48.7% in 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 last quarter. Institutional investors and hedge funds 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.