Wells Fargo & Company Forecasts Strong Price Appreciation for Ardagh Metal Packaging (NYSE:AMBP) Stock

Ardagh Metal Packaging (NYSE:AMBP) had its price target boosted by equities research analysts at Wells Fargo & Company from $3.45 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 8.93% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Morgan Stanley increased their price target on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an “equal weight” rating in a research report on Wednesday, June 25th. Citigroup lifted their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Finally, UBS Group increased their price target on shares of Ardagh Metal Packaging from $3.40 to $4.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.52.

Ardagh Metal Packaging Stock Performance

Shares of NYSE:AMBP opened at $4.59 on Friday. The business’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $3.34. Ardagh Metal Packaging has a one year low of $2.50 and a one year high of $4.78. The company has a market cap of $2.74 billion, a P/E ratio of -114.75, a PEG ratio of 1.10 and a beta of 0.56.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.17 billion. Ardagh Metal Packaging had a net margin of 0.08% and a negative return on equity of 112.58%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. Analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBP. SBI Securities Co. Ltd. grew its position in shares of Ardagh Metal Packaging by 140.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company’s stock worth $28,000 after buying an additional 5,361 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Ardagh Metal Packaging during the 2nd quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Ardagh Metal Packaging during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its position in shares of Ardagh Metal Packaging by 292.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock worth $33,000 after buying an additional 8,180 shares during the period. Finally, Signaturefd LLC grew its position in shares of Ardagh Metal Packaging by 237.4% during the 2nd quarter. Signaturefd LLC now owns 11,382 shares of the company’s stock worth $49,000 after buying an additional 8,009 shares during the period. Institutional investors and hedge funds own 16.93% of the company’s stock.

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.