Ardagh Group (NYSE:ARD) Downgraded by ValuEngine

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ValuEngine lowered shares of Ardagh Group (NYSE:ARD) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, ValuEngine reports.

ARD has been the subject of a number of other reports. Citigroup upped their target price on Ardagh Group from $16.00 to $22.00 and gave the stock a buy rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. downgraded Ardagh Group from a neutral rating to an underweight rating and upped their target price for the stock from $15.00 to $17.00 in a research report on Wednesday, July 17th. Finally, Zacks Investment Research downgraded Ardagh Group from a hold rating to a sell rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $18.22.

ARD opened at $16.87 on Thursday. The firm has a market capitalization of $314.37 million, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. Ardagh Group has a 1-year low of $10.09 and a 1-year high of $20.00. The business has a 50 day moving average price of $17.16.

Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. Ardagh Group had a negative return on equity of 26.87% and a negative net margin of 0.61%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, analysts forecast that Ardagh Group will post 1.66 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ARD. Bank of New York Mellon Corp increased its holdings in shares of Ardagh Group by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 37,113 shares of the company’s stock valued at $410,000 after buying an additional 3,915 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Ardagh Group by 6.3% in the fourth quarter. Northern Trust Corp now owns 233,652 shares of the company’s stock valued at $2,589,000 after buying an additional 13,852 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ardagh Group by 17.6% in the fourth quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock valued at $587,000 after buying an additional 7,935 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Ardagh Group in the fourth quarter valued at $208,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Ardagh Group by 60.9% in the fourth quarter. Two Sigma Advisers LP now owns 28,000 shares of the company’s stock valued at $310,000 after buying an additional 10,600 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors.

Ardagh Group Company Profile

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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Analyst Recommendations for Ardagh Group (NYSE:ARD)

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