Ardagh Metal Packaging (NYSE:AMBP) Price Target Lowered to $3.60 at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP) had its target price reduced by investment analysts at Wells Fargo & Company from $5.00 to $3.60 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 30.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $4.90 to $4.00 in a research note on Wednesday, December 11th. Citigroup increased their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.65.

Ardagh Metal Packaging Price Performance

Shares of NYSE:AMBP opened at $2.76 on Monday. Ardagh Metal Packaging has a 1-year low of $2.75 and a 1-year high of $4.26. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The stock has a market cap of $1.65 billion, a PE ratio of -23.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.65. The stock’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $3.54.

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

Institutional Investors Weigh In On Ardagh Metal Packaging

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its position in shares of Ardagh Metal Packaging by 15,834.1% during the 3rd quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock valued at $19,245,000 after acquiring an additional 5,072,769 shares during the last quarter. King Street Capital Management L.P. bought a new position in shares of Ardagh Metal Packaging in the 2nd quarter worth $14,790,000. Squarepoint Ops LLC raised its position in shares of Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after buying an additional 2,446,997 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Ardagh Metal Packaging by 37.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after acquiring an additional 489,146 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Ardagh Metal Packaging by 48.7% in 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 in the last quarter. 16.93% of the stock is currently owned by 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.