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

Ardagh Metal Packaging (NYSE:AMBP) had its price target lifted by Truist Financial from $4.00 to $5.00 in a report published on Tuesday morning, Marketbeat reports. They currently have a hold rating on the stock.

A number of other research firms also recently weighed in on AMBP. Weiss Ratings reissued a “hold (c)” rating on shares of Ardagh Metal Packaging in a research report on Wednesday, October 8th. Raymond James Financial assumed coverage on Ardagh Metal Packaging in a research report on Wednesday, October 15th. They issued a “market perform” rating for the company. UBS Group set a $3.60 price objective on Ardagh Metal Packaging in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and a consensus price target of $4.38.

Ardagh Metal Packaging Trading Up 1.8%

Shares of Ardagh Metal Packaging stock opened at $4.36 on Tuesday. Ardagh Metal Packaging has a 1 year low of $2.50 and a 1 year high of $4.78. The company’s fifty day simple moving average is $3.86 and its 200-day simple moving average is $3.92. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -435.50, a PEG ratio of 0.98 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a net margin of 0.30% and a negative return on equity of 58.16%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $0.08 EPS. The business’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.2%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -4,000.00%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Hedge funds have recently made changes to their positions in the company. Capital Investment Advisory Services LLC acquired a new position in Ardagh Metal Packaging in the third quarter valued at about $40,000. Pallas Capital Advisors LLC acquired a new stake in shares of Ardagh Metal Packaging during the second quarter worth approximately $43,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $43,000. Capula Management Ltd bought a new position in shares of Ardagh Metal Packaging in the second quarter valued at approximately $45,000. Finally, Guardian Capital LP acquired a new position in shares of Ardagh Metal Packaging in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

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.