Ardagh Metal Packaging (NYSE:AMBP) Price Target Cut to $4.00 by Analysts at Citigroup

Ardagh Metal Packaging (NYSE:AMBP) had its target price reduced by research analysts at Citigroup from $4.50 to $4.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 36.99% from the stock’s current price.

Several other analysts have also issued reports on AMBP. Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $4.90 to $4.00 in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price target on Ardagh Metal Packaging from $5.00 to $3.60 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.65.

Ardagh Metal Packaging Stock Performance

Shares of NYSE:AMBP traded down $0.05 during midday trading on Monday, hitting $2.92. The company’s stock had a trading volume of 1,930,689 shares, compared to its average volume of 1,437,500. Ardagh Metal Packaging has a fifty-two week low of $2.91 and a fifty-two week high of $4.26. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -24.33, a PEG ratio of 0.79 and a beta of 0.65. The stock’s 50 day simple moving average is $3.45 and its 200 day simple moving average is $3.55.

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

Hedge Funds Weigh In On Ardagh Metal Packaging

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