Wells Fargo & Company Issues Pessimistic Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP) had its target price dropped by research analysts at Wells Fargo & Company from $5.00 to $3.60 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 30.43% from the company’s previous close.

A number of other research analysts have also recently issued reports on AMBP. Citigroup lifted their price objective on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.65.

Ardagh Metal Packaging Price Performance

Shares of NYSE AMBP opened at $2.76 on Monday. The stock has a market capitalization of $1.65 billion, a PE ratio of -23.00, a P/E/G ratio of 0.79 and a beta of 0.65. Ardagh Metal Packaging has a fifty-two week low of $2.75 and a fifty-two week high of $4.26. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The business has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.54.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. Ardagh Metal Packaging’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC bought a new stake in shares of Ardagh Metal Packaging in the 3rd quarter valued at $42,000. Quarry LP acquired a new position in shares of Ardagh Metal Packaging during the 2nd quarter valued at $45,000. nVerses Capital LLC boosted its stake in Ardagh Metal Packaging by 70.4% during the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after acquiring an additional 5,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after purchasing an additional 5,009 shares during the period. Finally, Signaturefd LLC increased its stake in Ardagh Metal Packaging by 23.1% in the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after purchasing an additional 3,515 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

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.