Wells Fargo & Company Issues Pessimistic Forecast for Ardagh Metal Packaging (NYSE:AMBP) Stock Price

Ardagh Metal Packaging (NYSE:AMBP) had its price target dropped by equities researchers at Wells Fargo & Company from $5.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.43% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Morgan Stanley set a $4.30 price objective on shares of Ardagh Metal Packaging in a report on Thursday, January 8th. Truist Financial increased their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, January 6th. UBS Group raised their price target on shares of Ardagh Metal Packaging from $4.00 to $4.25 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.51.

Ardagh Metal Packaging Stock Down 3.1%

NYSE:AMBP opened at $3.91 on Friday. The company has a market cap of $2.33 billion, a PE ratio of -390.50, a P/E/G ratio of 0.96 and a beta of 0.54. The business’s 50 day moving average is $4.51 and its two-hundred day moving average is $4.06. Ardagh Metal Packaging has a 52 week low of $2.53 and a 52 week high of $5.03.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. Ardagh Metal Packaging had a negative return on equity of 37.42% and a net margin of 0.20%.The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently modified their holdings of AMBP. Kestra Advisory Services LLC bought a new position in shares of Ardagh Metal Packaging during the fourth quarter worth about $33,000. Capital Investment Advisory Services LLC bought a new stake in Ardagh Metal Packaging in the 3rd quarter valued at about $40,000. Pallas Capital Advisors LLC acquired a new position in Ardagh Metal Packaging during the 4th quarter valued at about $42,000. Dynamic Technology Lab Private Ltd acquired a new position in Ardagh Metal Packaging during the 1st quarter valued at about $43,000. Finally, Capula Management Ltd bought a new position in Ardagh Metal Packaging in the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.