Ardagh Metal Packaging (NYSE:AMBP) Price Target Raised to $5.00

Ardagh Metal Packaging (NYSE:AMBP) had its target price upped by Wells Fargo & Company from $4.00 to $5.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on AMBP. Citigroup decreased their price objective on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, April 24th. UBS Group dropped their target price on Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating on the stock in a report on Friday, April 10th. Finally, Weiss Ratings upgraded Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ardagh Metal Packaging currently has an average rating of “Hold” and a consensus price target of $4.71.

Ardagh Metal Packaging Stock Down 1.4%

Shares of NYSE:AMBP opened at $4.68 on Wednesday. Ardagh Metal Packaging has a fifty-two week low of $3.29 and a fifty-two week high of $5.03. The firm’s 50 day moving average price is $4.30 and its 200 day moving average price is $4.30. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.01 and a beta of 0.51.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. Ardagh Metal Packaging had a net margin of 0.19% and a negative return on equity of 31.14%. The company had revenue of $1.50 billion during the quarter. On average, equities analysts anticipate that Ardagh Metal Packaging will post 0.25 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Trading of Ardagh Metal Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arini Captial Management Ltd acquired a new stake in Ardagh Metal Packaging during the 4th quarter worth $46,109,000. Weiss Asset Management LP lifted its position in Ardagh Metal Packaging by 11,276.2% in the first quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock valued at $18,291,000 after acquiring an additional 4,476,638 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ardagh Metal Packaging by 603.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,357,953 shares of the company’s stock valued at $9,408,000 after acquiring an additional 2,022,889 shares in the last quarter. Barclays PLC boosted its stake in Ardagh Metal Packaging by 242.7% in the third quarter. Barclays PLC now owns 1,834,361 shares of the company’s stock valued at $7,319,000 after acquiring an additional 1,299,132 shares in the last quarter. Finally, Shellback Capital LP acquired a new position in Ardagh Metal Packaging in the second quarter valued at $4,072,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

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.