Wells Fargo & Company Upgrades Ardagh Metal Packaging (NYSE:AMBP) to “Overweight”

Ardagh Metal Packaging (NYSE:AMBP) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $5.00 target price on the stock, up from their prior target price of $4.25. Wells Fargo & Company‘s price objective indicates a potential upside of 26.10% from the company’s current price.

A number of other brokerages also recently issued reports on AMBP. UBS Group downgraded Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and dropped their price target for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Citigroup lifted their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.85.

Ardagh Metal Packaging Stock Performance

Shares of AMBP stock opened at $3.97 on Tuesday. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. Ardagh Metal Packaging has a 52-week low of $2.57 and a 52-week high of $4.17. The company has a market capitalization of $2.37 billion, a PE ratio of -28.32, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. The business’s fifty day moving average is $3.59 and its 200 day moving average is $3.66.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.26 billion for 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%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. On average, equities research analysts anticipate that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Institutional Trading of Ardagh Metal Packaging

A number of hedge funds have recently bought and sold shares of AMBP. King Street Capital Management L.P. bought a new stake in Ardagh Metal Packaging in the 2nd quarter worth approximately $14,790,000. Squarepoint Ops LLC lifted its position in Ardagh Metal Packaging by 523.8% in the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock worth $10,568,000 after buying an additional 2,446,997 shares during the last quarter. Sona Asset Management US LLC bought a new stake in Ardagh Metal Packaging in the first quarter valued at approximately $4,288,000. Renaissance Technologies LLC lifted 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 valued at $4,505,000 after purchasing an additional 433,700 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Ardagh Metal Packaging by 422.4% in the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock valued at $1,085,000 after purchasing an additional 258,067 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

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.