Ardagh Metal Packaging (NYSE:AMBP) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from a buy rating to a hold rating in a research report released on Saturday.

A number of other research analysts also recently issued reports on AMBP. Wells Fargo & Company increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Citigroup restated a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday, July 24th. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. UBS Group raised their price target on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ardagh Metal Packaging in a report on Thursday. They issued a “hold” rating and a $5.20 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.92.

Ardagh Metal Packaging Trading Up 2.1%

AMBP opened at $5.36 on Friday. The firm’s fifty day simple moving average is $4.77 and its 200 day simple moving average is $4.43. The stock has a market capitalization of $3.20 billion, a P/E ratio of 89.35, a P/E/G ratio of 1.04 and a beta of 0.51. Ardagh Metal Packaging has a 12 month low of $3.29 and a 12 month high of $5.47.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.57 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, equities research analysts predict that Ardagh Metal Packaging will post 0.28 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.5%. Ardagh Metal Packaging’s payout ratio is currently 666.67%.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arini Captial Management Ltd bought a new position in Ardagh Metal Packaging in the fourth quarter valued at approximately $46,109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ardagh Metal Packaging by 3.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,392,929 shares of the company’s stock worth $41,468,000 after purchasing an additional 323,790 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ardagh Metal Packaging by 8.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,791,368 shares of the company’s stock worth $27,845,000 after purchasing an additional 545,227 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ardagh Metal Packaging by 20.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock worth $18,779,000 after purchasing an additional 801,019 shares in the last quarter. Finally, Weiss Asset Management LP raised its stake in shares of Ardagh Metal Packaging by 11,276.2% during the 1st quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock worth $18,291,000 after purchasing an additional 4,476,638 shares in the last quarter. Institutional investors 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.