Wall Street Zen Upgrades Ardagh Metal Packaging (NYSE:AMBP) to “Buy”

Ardagh Metal Packaging (NYSE:AMBP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

AMBP has been the subject of a number of other research reports. Wells Fargo & Company upped their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ardagh Metal Packaging in a research report on Thursday, August 20th. They set a “hold” rating and a $5.20 price target on the stock. Citigroup reaffirmed a “buy” rating on shares of Ardagh Metal Packaging in a research note on Friday, July 24th. UBS Group raised their target price on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.92.

Ardagh Metal Packaging Trading Up 0.3%

Shares of Ardagh Metal Packaging stock opened at $4.64 on Friday. Ardagh Metal Packaging has a twelve month low of $3.29 and a twelve month high of $5.47. The firm has a market capitalization of $2.78 billion, a PE ratio of 77.43, a P/E/G ratio of 0.85 and a beta of 0.51. The firm’s 50-day moving average price is $4.94 and its 200 day moving average price is $4.45.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.57 billion. Ardagh Metal Packaging had a negative return on equity of 27.93% and a net margin of 0.68%.Ardagh Metal Packaging’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. On average, sell-side analysts predict that Ardagh Metal Packaging will post 0.28 EPS for the current fiscal year.

Institutional Trading of Ardagh Metal Packaging

Several hedge funds have recently made changes to their positions in the business. Arini Captial Management Ltd acquired a new stake in Ardagh Metal Packaging in the fourth quarter valued at $46,109,000. Weiss Asset Management LP raised its position in shares of Ardagh Metal Packaging by 11,276.2% during the 1st quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock worth $18,291,000 after acquiring an additional 4,476,638 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ardagh Metal Packaging by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock worth $18,779,000 after purchasing an additional 801,019 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Ardagh Metal Packaging by 28.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,269,861 shares of the company’s stock worth $13,243,000 after purchasing an additional 722,974 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Ardagh Metal Packaging by 31.9% during the first quarter. Renaissance Technologies LLC now owns 2,894,210 shares of the company’s stock worth $11,722,000 after purchasing an additional 699,478 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA (NYSE:AMBP) is a global supplier of sustainable, infinitely recyclable metal packaging. The company primarily manufactures beverage cans and ends for beer, soft drinks, energy drinks, sparkling water and other beverage products, serving branded consumer-goods companies, retailers and beverage producers.

The company operates production facilities across Europe, North America and Brazil. Its products are designed for a range of beverage formats and sizes, with a focus on lightweighting, recyclability and packaging solutions that support customers’ sustainability objectives.

Ardagh Metal Packaging was formed through the separation of Ardagh Group’s metal beverage packaging operations and became a publicly traded company in 2021 following a business combination with a special purpose acquisition company.