Ardagh Metal Packaging (NYSE:AMBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ardagh Metal Packaging (NYSE:AMBP) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also commented on AMBP. Citigroup restated a “buy” rating on shares of Ardagh Metal Packaging in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Ardagh Metal Packaging in a report on Thursday, August 20th. They issued a “hold” rating and a $5.20 target price on the stock. UBS Group boosted their price objective on shares of Ardagh Metal Packaging from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their price objective on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging presently has an average rating of “Hold” and an average price target of $4.92.

Ardagh Metal Packaging Stock Down 1.9%

Shares of NYSE:AMBP opened at $4.54 on Friday. The company’s fifty day moving average is $4.94 and its two-hundred day moving average is $4.45. The company has a market cap of $2.71 billion, a P/E ratio of 75.68, a price-to-earnings-growth ratio of 0.85 and a beta of 0.51. Ardagh Metal Packaging has a 12-month low of $3.29 and a 12-month high of $5.47.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Wednesday, July 22nd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations 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 revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that Ardagh Metal Packaging will post 0.28 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, September 10th. Ardagh Metal Packaging’s dividend payout ratio is presently 666.67%.

Institutional Investors Weigh In On Ardagh Metal Packaging

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

Ardagh Metal Packaging Company Profile

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.