Citigroup Increases Ardagh Metal Packaging (NYSE:AMBP) Price Target to $4.50

by · The Markets Daily

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) had its price objective hoisted by analysts at Citigroup from $4.00 to $4.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 22.62% from the company’s previous close.

A number of other research analysts also recently issued reports on AMBP. Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $5.00 to $3.75 in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.74.

Read Our Latest Stock Analysis on Ardagh Metal Packaging

Ardagh Metal Packaging Price Performance

AMBP opened at $3.67 on Wednesday. The stock’s 50-day moving average price is $3.54 and its 200 day moving average price is $3.63. Ardagh Metal Packaging has a 12-month low of $2.57 and a 12-month high of $4.17. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -26.21, a PEG ratio of 0.78 and a beta of 0.62. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21.

Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. Ardagh Metal Packaging’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. As a group, sell-side analysts expect that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Institutional Trading of Ardagh Metal Packaging

A number of hedge funds have recently bought and sold shares of AMBP. Angeles Wealth Management LLC acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth approximately $1,863,000. Platinum Investment Management Ltd. raised its stake in Ardagh Metal Packaging by 146.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 66,982 shares of the company’s stock worth $257,000 after purchasing an additional 39,854 shares during the period. Brightline Capital Management LLC purchased a new position in Ardagh Metal Packaging during the fourth quarter worth approximately $8,582,000. Grizzlyrock Capital LLC acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth about $9,360,000. Finally, Sanders Morris Harris LLC purchased a new position in Ardagh Metal Packaging in the first quarter valued at approximately $98,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Company Profile

(Get Free Report)

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.

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