Zacks Investment Research upgraded shares of Ardagh Group (NYSE:ARD) from a sell rating to a hold rating in a research note published on Wednesday, December 27th.
According to Zacks, “Ardagh Group S.A. provides metal and glass packaging solutions, producing packaging for food, beverage and consumer brands. Ardagh Group S.A. is based in Luxembourg. “
Other research analysts have also issued reports about the company. Royal Bank of Canada set a $25.00 price objective on Ardagh Group and gave the stock a buy rating in a research report on Monday, October 30th. BMO Capital Markets raised Ardagh Group from a market perform rating to an outperform rating and set a $26.00 price objective for the company in a research report on Monday, October 30th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $24.35.
Shares of Ardagh Group (ARD) opened at $20.33 on Wednesday. Ardagh Group has a 12-month low of $19.55 and a 12-month high of $24.54.
Ardagh Group (NYSE:ARD) last announced its earnings results on Thursday, October 26th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. research analysts anticipate that Ardagh Group will post 0.95 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Ardagh Group by 35.2% in the 3rd quarter. Mackenzie Financial Corp now owns 386,821 shares of the company’s stock worth $8,282,000 after acquiring an additional 100,708 shares in the last quarter. Barings LLC acquired a new stake in shares of Ardagh Group in the 3rd quarter valued at about $899,000. Wells Fargo & Company MN grew its stake in shares of Ardagh Group by 528.8% in the 3rd quarter. Wells Fargo & Company MN now owns 73,823 shares of the company’s stock valued at $1,580,000 after buying an additional 62,083 shares during the period. Schroder Investment Management Group grew its stake in shares of Ardagh Group by 20.3% in the 3rd quarter. Schroder Investment Management Group now owns 840,504 shares of the company’s stock valued at $17,903,000 after buying an additional 141,780 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Ardagh Group by 39.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,124 shares of the company’s stock valued at $1,004,000 after buying an additional 13,246 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.
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About Ardagh Group
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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