Ardagh Metal Packaging (NYSE:AMBP) Price Target Raised to $5.00

Ardagh Metal Packaging (NYSE:AMBP) had its price objective hoisted by Truist Financial from $4.00 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 14.81% from the stock’s current price.

A number of other equities analysts have also weighed in on AMBP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ardagh Metal Packaging in a research note on Wednesday, October 8th. UBS Group set a $3.60 price target on Ardagh Metal Packaging in a report on Monday. Raymond James Financial assumed coverage on Ardagh Metal Packaging in a report on Wednesday, October 15th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company reduced their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.34.

Ardagh Metal Packaging Stock Up 5.7%

AMBP stock opened at $4.36 on Tuesday. The stock’s 50 day moving average is $3.83 and its two-hundred day moving average is $3.92. Ardagh Metal Packaging has a 52-week low of $2.50 and a 52-week high of $4.78. The company has a market capitalization of $2.60 billion, a PE ratio of -432.00, a P/E/G ratio of 1.04 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Ardagh Metal Packaging had a net margin of 0.30% and a negative return on equity of 58.16%. Ardagh Metal Packaging’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds have recently added to or reduced their stakes in AMBP. R Squared Ltd increased its stake in shares of Ardagh Metal Packaging by 15.3% during the 3rd quarter. R Squared Ltd now owns 25,046 shares of the company’s stock worth $100,000 after purchasing an additional 3,328 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Ardagh Metal Packaging by 11.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,897 shares of the company’s stock worth $141,000 after purchasing an additional 3,391 shares in the last quarter. CWM LLC boosted its position in shares of Ardagh Metal Packaging by 9.6% during the 2nd quarter. CWM LLC now owns 40,104 shares of the company’s stock valued at $172,000 after acquiring an additional 3,523 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its stake in Ardagh Metal Packaging by 5.9% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 84,636 shares of the company’s stock valued at $338,000 after buying an additional 4,742 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. grew its stake in Ardagh Metal Packaging by 5.6% during the third quarter. Contrarian Capital Management L.L.C. now owns 95,000 shares of the company’s stock worth $379,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.