Ardagh Metal Packaging (NYSE:AMBP) Lowered to Underperform Rating by Bank of America

Ardagh Metal Packaging (NYSE:AMBP) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $4.00 price target on the stock, down from their prior price target of $4.90. Bank of America‘s price objective indicates a potential upside of 24.22% from the company’s previous close.

AMBP has been the subject of several other research reports. Citigroup boosted their target price 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. Wells Fargo & Company raised shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.92.

Ardagh Metal Packaging Stock Up 0.9 %

NYSE:AMBP opened at $3.22 on Wednesday. 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 company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -26.83, a price-to-earnings-growth ratio of 0.84 and a beta of 0.61. Ardagh Metal Packaging has a one year low of $3.16 and a one year high of $4.26. The stock has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $3.64.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates 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%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Sell-side analysts predict that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMBP. Vanguard Group Inc. boosted its position in shares of Ardagh Metal Packaging by 11.1% during the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock worth $3,655,000 after buying an additional 106,206 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Ardagh Metal Packaging by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the company’s stock worth $113,000 after acquiring an additional 4,922 shares during the period. SG Americas Securities LLC grew its stake in shares of Ardagh Metal Packaging by 89.2% in the second quarter. SG Americas Securities LLC now owns 196,515 shares of the company’s stock worth $668,000 after purchasing an additional 92,675 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Ardagh Metal Packaging by 58.9% during the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after purchasing an additional 182,906 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after purchasing an additional 5,009 shares during the period. 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.