Ardagh Metal Packaging (NYSE:AMBP) Sets New 1-Year High at $4.17

Ardagh Metal Packaging S.A. (NYSE:AMBP)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.17 and last traded at $4.10, with a volume of 113642 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMBP shares. Bank of America cut Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $4.10 to $3.50 in a report on Monday, April 1st. Truist Financial reaffirmed a “hold” rating and issued a $3.00 price target (down from $4.00) on shares of Ardagh Metal Packaging in a research note on Monday, February 26th. UBS Group began coverage on shares of Ardagh Metal Packaging in a research note on Tuesday, January 16th. They set a “buy” rating and a $5.00 price target for the company. Wells Fargo & Company raised their price target on Ardagh Metal Packaging from $3.70 to $3.75 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley began coverage on Ardagh Metal Packaging in a research report on Monday, March 18th. They issued an “underweight” rating and a $3.20 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.31.

Ardagh Metal Packaging Stock Performance

The firm’s 50-day moving average price is $3.48 and its 200-day moving average price is $3.57. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.92 and a quick ratio of 0.58.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 1.26% and a positive return on equity of 55.91%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. Research analysts predict that Ardagh Metal Packaging S.A. will post 0.17 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 9.98%. Ardagh Metal Packaging’s dividend payout ratio is currently -285.69%.

Hedge Funds Weigh In On Ardagh Metal Packaging

Large investors have recently added to or reduced their stakes in the company. Keeley Teton Advisors LLC raised its holdings in Ardagh Metal Packaging by 15.0% in the third quarter. Keeley Teton Advisors LLC now owns 1,579,381 shares of the company’s stock worth $4,943,000 after purchasing an additional 206,295 shares in the last quarter. Aigen Investment Management LP boosted its stake in Ardagh Metal Packaging by 253.1% during the 3rd quarter. Aigen Investment Management LP now owns 55,497 shares of the company’s stock worth $174,000 after purchasing an additional 39,780 shares during the last quarter. Barclays PLC raised its holdings in shares of Ardagh Metal Packaging by 53.0% during the 3rd quarter. Barclays PLC now owns 1,105,701 shares of the company’s stock worth $3,461,000 after acquiring an additional 383,081 shares during the period. Wedmont Private Capital purchased a new stake in Ardagh Metal Packaging during the fourth quarter worth about $39,000. Finally, BW Gestao de Investimentos Ltda. grew its position in shares of Ardagh Metal Packaging by 771.2% during the third quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company’s stock worth $8,713,000 after buying an additional 2,464,105 shares in the last quarter. Hedge funds and other institutional investors 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.