Ardagh Metal Packaging (NYSE:AMBP) Stock Rating Lowered 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 research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $4.90. Bank of America‘s price objective would indicate a potential upside of 24.22% from the stock’s previous close.

A number of other research firms also recently issued reports on AMBP. Citigroup boosted their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $4.25 to $5.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.92.

Ardagh Metal Packaging Price Performance

AMBP opened at $3.22 on Wednesday. Ardagh Metal Packaging has a 1 year low of $3.16 and a 1 year high of $4.26. The company’s 50 day simple moving average is $3.72 and its 200 day simple moving average is $3.64. The stock has a market capitalization of $1.92 billion, a PE ratio of -26.83, a P/E/G ratio of 0.84 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. Ardagh Metal Packaging’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. As a group, sell-side analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds have recently modified their holdings of the stock. King Street Capital Management L.P. purchased a new stake in Ardagh Metal Packaging during the 2nd quarter worth $14,790,000. Vanguard Group Inc. grew its stake 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 valued at $3,655,000 after acquiring an additional 106,206 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ardagh Metal Packaging by 48.7% during the second 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. AQR Capital Management LLC lifted its stake in shares of Ardagh Metal Packaging by 422.4% in the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock worth $1,085,000 after acquiring an additional 258,067 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Ardagh Metal Packaging by 23.1% in the third 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 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.