Ardagh Metal Packaging’s (AMBP) Equal Weight Rating Reaffirmed at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP)‘s stock had its “equal weight” rating reissued by analysts at Wells Fargo & Company in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $3.35 price objective on the stock, down from their prior price objective of $3.60. Wells Fargo & Company‘s price target would suggest a potential upside of 19.86% from the company’s previous close.

Other analysts have also recently issued reports about the company. UBS Group reduced their price target on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a report on Friday, January 10th. Citigroup cut their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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. Finally, Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.37.

Ardagh Metal Packaging Stock Performance

AMBP opened at $2.80 on Thursday. Ardagh Metal Packaging has a fifty-two week low of $2.66 and a fifty-two week high of $4.26. The company has a market capitalization of $1.67 billion, a P/E ratio of -23.29, a P/E/G ratio of 0.50 and a beta of 0.65. The stock has a fifty day moving average of $3.28 and a 200-day moving average of $3.50.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. Ardagh Metal Packaging’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, equities research 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

Several large investors have recently bought and sold shares of AMBP. Bank of New York Mellon Corp grew its stake in shares of Ardagh Metal Packaging by 58.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock worth $1,677,000 after acquiring an additional 182,906 shares in the last quarter. Rhumbline Advisers increased its stake in Ardagh Metal Packaging by 11.5% in the 2nd quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after buying an additional 17,104 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Ardagh Metal Packaging by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock worth $732,000 after buying an additional 26,865 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ardagh Metal Packaging by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock worth $2,550,000 after buying an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Ardagh Metal Packaging by 48.7% in the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock valued at $4,505,000 after acquiring an additional 433,700 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors.

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.