Ardagh Metal Packaging (NYSE:AMBP) Shares Gap Down – Time to Sell?

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) gapped down before the market opened on Thursday . The stock had previously closed at $4.19, but opened at $3.85. Ardagh Metal Packaging shares last traded at $3.92, with a volume of 173,103 shares.

Analyst Ratings Changes

AMBP has been the topic of several research reports. Bank of America raised Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and upped their price target for the company from $3.80 to $5.10 in a research note on Thursday, October 17th. Citigroup raised their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Finally, UBS Group cut shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $3.75 in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.08.

Ardagh Metal Packaging Price Performance

The company’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $3.68. The stock has a market cap of $2.32 billion, a P/E ratio of -28.00, a P/E/G ratio of 0.79 and a beta of 0.62. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several institutional investors and hedge funds have recently modified their holdings of the business. HB Wealth Management LLC boosted its holdings in shares of Ardagh Metal Packaging by 33.2% in the first quarter. HB Wealth Management LLC now owns 32,228 shares of the company’s stock valued at $111,000 after buying an additional 8,026 shares during the period. Janney Montgomery Scott LLC boosted its stake in Ardagh Metal Packaging by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 670,124 shares of the company’s stock worth $2,299,000 after purchasing an additional 37,492 shares during the period. Catalina Capital Group LLC bought a new position in Ardagh Metal Packaging during the 1st quarter worth about $42,000. SG Americas Securities LLC raised its stake in shares of Ardagh Metal Packaging by 42.9% in the 1st quarter. SG Americas Securities LLC now owns 103,840 shares of the company’s stock valued at $356,000 after purchasing an additional 31,156 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Ardagh Metal Packaging by 11.1% in the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock valued at $3,655,000 after purchasing an additional 106,206 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.