Wells Fargo & Company Reaffirms “Equal Weight” Rating for Ardagh Metal Packaging (NYSE:AMBP)

Ardagh Metal Packaging (NYSE:AMBP)‘s stock had its “equal weight” rating reissued by equities researchers at Wells Fargo & Company in a research note issued to investors on Thursday,Benzinga reports. They presently have a $3.35 price objective on the stock, down from their previous price objective of $3.60. Wells Fargo & Company‘s price objective points to a potential upside of 17.96% from the stock’s current price.

Several other equities analysts have also commented on the company. UBS Group dropped their target price on Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a report on Friday, January 10th. Morgan Stanley upgraded Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $3.60 to $3.10 in a report on Monday. Citigroup decreased their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and lowered their price target for the company from $4.90 to $4.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.37.

Ardagh Metal Packaging Price Performance

AMBP stock opened at $2.84 on Thursday. The business’s 50-day moving average is $3.32 and its two-hundred day moving average is $3.51. The firm has a market capitalization of $1.70 billion, a P/E ratio of -23.66, a P/E/G ratio of 0.50 and a beta of 0.65. Ardagh Metal Packaging has a 1 year low of $2.66 and a 1 year high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, beating 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 firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Ardagh Metal Packaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Ardagh Metal Packaging by 58.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after acquiring an additional 182,906 shares during the period. Rhumbline Advisers grew its stake in shares of Ardagh Metal Packaging by 11.5% in the 2nd quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after purchasing an additional 17,104 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Ardagh Metal Packaging by 14.3% in the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock valued at $732,000 after purchasing an additional 26,865 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Ardagh Metal Packaging by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company’s stock worth $2,550,000 after purchasing an additional 15,637 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Ardagh Metal Packaging by 48.7% during the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after purchasing an additional 433,700 shares during the period. Hedge funds and other institutional investors own 16.93% of the company’s stock.

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.