Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) had its target price dropped by equities researchers at Wells Fargo & Company from $5.00 to $4.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 0.88% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Morgan Stanley set a $4.30 price target on Ardagh Metal Packaging in a research report on Thursday, January 8th. Truist Financial boosted their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, January 6th. UBS Group increased their price objective on Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.51.
Check Out Our Latest Research Report on AMBP
Ardagh Metal Packaging Price Performance
Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Ardagh Metal Packaging had a negative return on equity of 37.42% and a net margin of 0.20%.The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ardagh Metal Packaging
A number of institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in Ardagh Metal Packaging in the fourth quarter worth about $33,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Ardagh Metal Packaging during the third quarter valued at approximately $40,000. Pallas Capital Advisors LLC bought a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at approximately $42,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ardagh Metal Packaging during the first quarter valued at approximately $43,000. Finally, Capula Management Ltd purchased a new position in Ardagh Metal Packaging in the 2nd quarter worth approximately $45,000. 16.93% of the stock is owned by institutional investors.
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.
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