Citigroup Lowers Ardagh Metal Packaging (NYSE:AMBP) Price Target to $4.00

Ardagh Metal Packaging (NYSE:AMBP) had its target price decreased by stock analysts at Citigroup from $4.50 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 44.93% from the stock’s previous close.

Several other brokerages have also recently issued reports on AMBP. Bank of America downgraded shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price target on shares of Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging has a consensus rating of “Hold” and an average price target of $3.65.

Ardagh Metal Packaging Price Performance

Shares of AMBP opened at $2.76 on Monday. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $1.65 billion, a PE ratio of -23.00, a PEG ratio of 0.79 and a beta of 0.65. The company has a 50 day moving average price of $3.41 and a 200-day moving average price of $3.54. Ardagh Metal Packaging has a fifty-two week low of $2.75 and a fifty-two week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict 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 and hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC purchased a new position in Ardagh Metal Packaging during the 3rd quarter worth approximately $42,000. Quarry LP acquired a new stake in shares of Ardagh Metal Packaging in the second quarter valued at approximately $45,000. nVerses Capital LLC grew its position in shares of 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 during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ardagh Metal Packaging by 34.5% in the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after acquiring an additional 5,009 shares during the period. Finally, Signaturefd LLC raised its position in Ardagh Metal Packaging by 23.1% in the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock valued at $71,000 after purchasing an additional 3,515 shares during the last quarter. 16.93% of the stock is owned by institutional investors and hedge funds.

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.