Citigroup Raises Ardagh Metal Packaging (NYSE:AMBP) Price Target to $4.50

Ardagh Metal Packaging (NYSE:AMBP) had its target price raised by investment analysts at Citigroup from $4.00 to $4.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 21.95% from the company’s current price.

A number of other analysts also recently issued reports on AMBP. UBS Group downgraded shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Wells Fargo & Company upped their price target on shares of Ardagh Metal Packaging from $3.95 to $4.25 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and an average price target of $3.74.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP traded down $0.10 during trading on Wednesday, reaching $3.69. 361,673 shares of the company traded hands, compared to its average volume of 1,340,280. The stock has a market cap of $2.21 billion, a P/E ratio of -26.36, a PEG ratio of 0.78 and a beta of 0.61. The firm’s fifty day simple moving average is $3.54 and its 200 day simple moving average is $3.63. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging has a 12-month low of $2.57 and a 12-month high of $4.17.

Ardagh Metal Packaging (NYSE:AMBP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $0.04 earnings per share. Ardagh Metal Packaging’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Ardagh Metal Packaging

Hedge funds have recently made changes to their positions in the company. Catalina Capital Group LLC acquired a new position in Ardagh Metal Packaging in the first quarter valued at approximately $42,000. Quarry LP acquired a new position in shares of Ardagh Metal Packaging in the 2nd quarter valued at $45,000. Principal Financial Group Inc. lifted its stake in shares of Ardagh Metal Packaging by 34.5% in 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. Gries Financial LLC purchased a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth $77,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Ardagh Metal Packaging during the 1st quarter worth about $91,000. 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.