Wells Fargo & Company Upgrades Ardagh Metal Packaging (NYSE:AMBP) to “Overweight”

Ardagh Metal Packaging (NYSE:AMBP) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm presently has a $5.00 price target on the stock, up from their previous price target of $4.25. Wells Fargo & Company‘s target price would indicate a potential upside of 26.10% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Citigroup lifted their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. UBS Group downgraded Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $3.75 in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.85.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock opened at $3.97 on Tuesday. Ardagh Metal Packaging has a one year low of $2.57 and a one year high of $4.17. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -28.32, a PEG ratio of 0.79 and a beta of 0.62. The business has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $3.66. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. On average, research analysts anticipate 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 hedge funds and other institutional investors have recently modified their holdings of AMBP. Sanders Morris Harris LLC purchased a new position in Ardagh Metal Packaging in the first quarter valued at approximately $98,000. Gilman Hill Asset Management LLC lifted its stake in Ardagh Metal Packaging by 1.2% in the first quarter. Gilman Hill Asset Management LLC now owns 1,782,246 shares of the company’s stock valued at $6,113,000 after purchasing an additional 21,411 shares during the last quarter. HB Wealth Management LLC lifted its stake in Ardagh Metal Packaging by 33.2% in the first quarter. HB Wealth Management LLC now owns 32,228 shares of the company’s stock valued at $111,000 after purchasing an additional 8,026 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Ardagh Metal Packaging by 5.9% in the first quarter. Janney Montgomery Scott LLC now owns 670,124 shares of the company’s stock valued at $2,299,000 after purchasing an additional 37,492 shares during the last quarter. Finally, Catalina Capital Group LLC purchased a new position in Ardagh Metal Packaging in the first quarter valued at approximately $42,000. 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.