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

Wells Fargo & Company upgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $5.00 price target on the stock, up from their prior price target of $4.25.

Several other research firms also recently weighed in on AMBP. UBS Group downgraded Ardagh Metal Packaging from a buy rating to a neutral rating and cut their price target for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Citigroup increased their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a buy rating in a research report on Wednesday, October 2nd. 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’s stock. According to MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of Hold and a consensus price target of $3.85.

Ardagh Metal Packaging Stock Performance

NYSE AMBP opened at $3.96 on Tuesday. The company has a market capitalization of $2.37 billion, a PE ratio of -28.29, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. Ardagh Metal Packaging has a 52-week low of $2.57 and a 52-week high of $4.17. The company has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $3.65.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.04 EPS. Ardagh Metal Packaging’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.40 annualized dividend and a yield of 10.10%. Ardagh Metal Packaging’s dividend payout ratio is currently -285.71%.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors and hedge funds have recently bought and sold shares of AMBP. King Street Capital Management L.P. bought a new position in shares of Ardagh Metal Packaging in the second quarter worth $14,790,000. Vanguard Group Inc. grew its position in 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 in the last quarter. Renaissance Technologies LLC increased its stake in Ardagh Metal Packaging by 48.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after acquiring an additional 433,700 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Ardagh Metal Packaging by 12.0% in the 1st quarter. Gabelli Funds LLC now owns 112,000 shares of the company’s stock valued at $384,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Ardagh Metal Packaging by 58.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after acquiring an additional 182,906 shares during the last quarter. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

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.