Citigroup Raises Ardagh Group (NYSE:ARD) Price Target to $22.00

Ardagh Group (NYSE:ARD) had its price objective boosted by Citigroup from $16.00 to $22.00 in a research note released on Thursday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the stock.

Several other brokerages also recently issued reports on ARD. Zacks Investment Research downgraded First Merchants from a hold rating to a sell rating in a research note on Monday, July 1st. ValuEngine downgraded Welbilt from a hold rating to a sell rating in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $18.38.

Shares of Ardagh Group stock opened at $18.90 on Thursday. The business has a 50-day simple moving average of $16.04. The stock has a market cap of $352.30 million, a P/E ratio of 11.18, a P/E/G ratio of 1.64 and a beta of 1.24. Ardagh Group has a 1 year low of $10.09 and a 1 year high of $20.00.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ardagh Group had a negative return on equity of 28.61% and a negative net margin of 0.73%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, sell-side analysts predict that Ardagh Group will post 1.68 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC acquired a new position in shares of Ardagh Group during the 1st quarter valued at about $131,000. Legal & General Group Plc grew its holdings in Ardagh Group by 4,174.0% in the 4th quarter. Legal & General Group Plc now owns 10,856 shares of the company’s stock valued at $120,000 after buying an additional 10,602 shares during the last quarter. Barings LLC acquired a new stake in Ardagh Group in the 1st quarter valued at approximately $228,000. Two Sigma Investments LP acquired a new stake in Ardagh Group in the 4th quarter valued at approximately $208,000. Finally, BB&T Corp grew its holdings in Ardagh Group by 9.7% in the 1st quarter. BB&T Corp now owns 21,150 shares of the company’s stock valued at $275,000 after buying an additional 1,870 shares during the last quarter. 86.41% of the stock is owned by institutional investors.

About Ardagh Group

Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.

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Analyst Recommendations for Ardagh Group (NYSE:ARD)

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