Ardagh Group S.A. (NYSE:ARD) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 164,900 shares, a drop of 20.5% from the August 15th total of 207,500 shares. Based on an average daily volume of 94,200 shares, the short-interest ratio is currently 1.8 days.
ARD has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Ardagh Group in a research report on Wednesday, September 1st. They set a “buy” rating and a $32.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ardagh Group in a research report on Thursday, August 26th. They set a “buy” rating and a $31.00 price objective on the stock. Credit Suisse Group raised their price objective on shares of Ardagh Group from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Finally, BMO Capital Markets downgraded shares of Ardagh Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $29.00 to $26.00 in a research report on Wednesday, May 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued 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 $27.71.
Several large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its stake in shares of Ardagh Group by 2.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 197,549 shares of the company’s stock worth $4,844,000 after buying an additional 4,188 shares in the last quarter. Morgan Stanley grew its stake in shares of Ardagh Group by 26.0% in the 2nd quarter. Morgan Stanley now owns 226,912 shares of the company’s stock worth $5,564,000 after buying an additional 46,813 shares in the last quarter. Weiss Multi Strategy Advisers LLC grew its stake in shares of Ardagh Group by 5.5% in the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 387,627 shares of the company’s stock worth $9,505,000 after buying an additional 20,041 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ardagh Group by 99.4% in the 2nd quarter. Invesco Ltd. now owns 37,705 shares of the company’s stock worth $925,000 after buying an additional 18,795 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ardagh Group by 171.8% in the 2nd quarter. Millennium Management LLC now owns 440,387 shares of the company’s stock worth $10,798,000 after buying an additional 278,371 shares in the last quarter. 82.61% of the stock is owned by institutional investors and hedge funds.
Ardagh Group (NYSE:ARD) last posted its earnings results on Tuesday, August 3rd. The company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Ardagh Group had a negative net margin of 0.08% and a negative return on equity of 120.19%. The company had revenue of $1.87 billion during the quarter. Analysts anticipate that Ardagh Group will post 1.7 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 17th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.48%. Ardagh Group’s payout ratio is currently 41.67%.
About Ardagh Group
Ardagh Group SA engages in the provision of packaging solutions for food and beverage markets. It operates through the following segments: Metal Beverage Packaging Europe, Metal Beverage Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. The firm’s products include metal beverage cans and glass containers.
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