Ardagh Metal Packaging (NYSE:AMBP) Given New $3.75 Price Target at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP) had its price objective hoisted by research analysts at Wells Fargo & Company from $3.70 to $3.75 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.13% from the stock’s previous close.

Several other research analysts have also issued reports on AMBP. Truist Financial restated a “hold” rating and set a $3.00 target price (down previously from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. UBS Group began coverage on shares of Ardagh Metal Packaging in a research note on Tuesday, January 16th. They set a “buy” rating and a $5.00 price target for the company. Bank of America downgraded shares of Ardagh Metal Packaging from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $4.10 to $3.50 in a research note on Monday, April 1st. Barclays downgraded shares of Ardagh Metal Packaging from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research note on Monday, January 8th. Finally, Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a research note on Monday, March 18th. They set an “underweight” rating and a $3.20 price target for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and an average target price of $4.31.

Ardagh Metal Packaging Stock Down 1.0 %

Shares of NYSE:AMBP opened at $3.41 on Thursday. Ardagh Metal Packaging has a 1 year low of $2.57 and a 1 year high of $4.29. The business has a 50 day simple moving average of $3.49 and a two-hundred day simple moving average of $3.52. The firm has a market capitalization of $2.03 billion, a PE ratio of -28.38, a price-to-earnings-growth ratio of 0.69 and a beta of 0.75. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.99 and a quick ratio of 0.68.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that Ardagh Metal Packaging will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC grew its holdings in Ardagh Metal Packaging by 66.8% in the second quarter. MetLife Investment Management LLC now owns 8,391 shares of the company’s stock worth $32,000 after purchasing an additional 3,359 shares during the last quarter. UBS Group AG grew its holdings in shares of Ardagh Metal Packaging by 43.1% during the second quarter. UBS Group AG now owns 6,028 shares of the company’s stock valued at $37,000 after buying an additional 1,815 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter valued at $39,000. JPMorgan Chase & Co. grew its holdings in shares of Ardagh Metal Packaging by 2,026.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,443 shares of the company’s stock valued at $41,000 after buying an additional 8,046 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ardagh Metal Packaging during the first quarter valued at $43,000. 16.93% of the stock is owned by hedge funds and other 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.