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

Ardagh Metal Packaging (NYSE:AMBP) had its price target cut by Wells Fargo & Company from $5.00 to $3.60 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.00% from the stock’s previous close.

Several other research analysts have also weighed in on AMBP. Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their target price for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Citigroup lifted their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.72.

Ardagh Metal Packaging Price Performance

Shares of Ardagh Metal Packaging stock traded up $0.03 on Monday, hitting $3.00. The company’s stock had a trading volume of 160,166 shares, compared to its average volume of 841,044. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21. The company has a market capitalization of $1.79 billion, a P/E ratio of -25.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The firm has a fifty day moving average price of $3.45 and a 200-day moving average price of $3.55. Ardagh Metal Packaging has a 52-week low of $2.93 and a 52-week high of $4.26.

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

Hedge Funds Weigh In On Ardagh Metal Packaging

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC acquired a new position in Ardagh Metal Packaging during the 3rd quarter worth $42,000. nVerses Capital LLC lifted its holdings in Ardagh Metal Packaging by 70.4% in the third quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $46,000 after purchasing an additional 5,000 shares during the period. Quarry LP acquired a new position in Ardagh Metal Packaging during the 2nd quarter valued at about $45,000. Signaturefd LLC raised its position in shares of Ardagh Metal Packaging by 23.1% during the 3rd quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after buying an additional 3,515 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Ardagh Metal Packaging by 34.5% in the 2nd quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock worth $66,000 after acquiring an additional 5,009 shares during the period. 16.93% of the stock is currently owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

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.