A number of other equities research analysts have also recently weighed in on ARD. Citigroup reduced their price target on shares of Ardagh Group from $25.00 to $22.00 and set a buy rating for the company in a research report on Tuesday, July 10th. Zacks Investment Research cut shares of Ardagh Group from a hold rating to a sell rating in a research report on Wednesday, July 11th. Royal Bank of Canada set a $22.00 price target on shares of Ardagh Group and gave the company a buy rating in a research report on Friday, July 27th. Finally, Barclays reduced their price target on shares of Ardagh Group from $20.00 to $18.00 and set an equal weight rating for the company in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $20.00.
Shares of ARD opened at $13.18 on Monday. Ardagh Group has a 1-year low of $13.00 and a 1-year high of $22.33. The firm has a market capitalization of $250.09 million, a P/E ratio of 7.16 and a beta of -0.30.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a $0.14 dividend. The ex-dividend date is Thursday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.25%. Ardagh Group’s payout ratio is 15.22%.
Several large investors have recently made changes to their positions in ARD. Wells Fargo & Company MN raised its holdings in shares of Ardagh Group by 202.1% in the first quarter. Wells Fargo & Company MN now owns 142,457 shares of the company’s stock valued at $2,661,000 after buying an additional 95,296 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Ardagh Group by 16.0% in the first quarter. BlackRock Inc. now owns 373,068 shares of the company’s stock valued at $6,969,000 after buying an additional 51,489 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Ardagh Group in the first quarter valued at about $878,000. Sei Investments Co. raised its holdings in shares of Ardagh Group by 99.3% in the first quarter. Sei Investments Co. now owns 7,759 shares of the company’s stock valued at $145,000 after buying an additional 3,866 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Ardagh Group by 10.9% during the first quarter. UBS Group AG now owns 305,353 shares of the company’s stock worth $5,704,000 after acquiring an additional 30,034 shares during the period. 88.48% of the stock is owned by institutional investors and hedge funds.
About Ardagh Group
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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