Ardagh Group S.A. (ARD) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Ardagh Group S.A. (NYSE:ARD) from a hold rating to a buy rating in a research note published on Friday morning. The firm currently has $23.00 price objective on the stock.
According to Zacks, “Ardagh Group S.A. provides metal and glass packaging solutions, producing packaging for food, beverage and consumer brands. Ardagh Group S.A. is based in Luxembourg. “
ARD has been the topic of several other research reports. Barclays PLC reaffirmed a hold rating and set a $23.00 target price on shares of Ardagh Group in a research note on Wednesday, August 2nd. BMO Capital Markets started coverage on Ardagh Group in a research note on Monday, June 19th. They set a market perform rating and a $26.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $24.17.
Ardagh Group (NYSE ARD) opened at 20.80 on Friday. The stock’s 50 day moving average is $21.09 and its 200 day moving average is $21.54. Ardagh Group has a one year low of $19.88 and a one year high of $24.54. The stock’s market capitalization is $4.92 billion.
Ardagh Group (NYSE:ARD) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.24. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Ardagh Group’s quarterly revenue was up 57.8% on a year-over-year basis. On average, equities analysts forecast that Ardagh Group will post $1.77 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 15th. This represents a $0.56 annualized dividend and a yield of 2.70%.
A number of large investors have recently added to or reduced their stakes in ARD. SG Americas Securities LLC purchased a new position in Ardagh Group during the 1st quarter valued at about $239,000. Wellington Management Group LLP purchased a new position in Ardagh Group during the 1st quarter valued at about $21,002,000. FMR LLC purchased a new position in Ardagh Group during the 1st quarter valued at about $6,452,000. Laurion Capital Management LP purchased a new position in Ardagh Group during the 1st quarter valued at about $878,000. Finally, Ngam Advisors L.P. purchased a new position in Ardagh Group during the 1st quarter valued at about $644,000. 99.93% of the stock is currently owned by institutional investors.
About Ardagh Group
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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