Ardagh Group SA (ARD) Position Lifted by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its position in shares of Ardagh Group SA (NYSE:ARD) by 39.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 47,124 shares of the company’s stock after acquiring an additional 13,246 shares during the period. JPMorgan Chase & Co.’s holdings in Ardagh Group were worth $1,004,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its stake in Ardagh Group by 3,749.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock valued at $217,000 after purchasing an additional 9,335 shares in the last quarter. Wells Fargo & Company MN increased its stake in Ardagh Group by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock valued at $265,000 after purchasing an additional 126 shares in the last quarter. Aperio Group LLC acquired a new position in Ardagh Group during the 3rd quarter valued at approximately $257,000. First Quadrant L P CA acquired a new position in Ardagh Group during the 3rd quarter valued at approximately $260,000. Finally, Vanguard Group Inc. acquired a new position in Ardagh Group during the 2nd quarter valued at approximately $289,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
A number of brokerages have issued reports on ARD. Zacks Investment Research upgraded shares of Ardagh Group from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 19th. Royal Bank of Canada set a $25.00 price target on shares of Ardagh Group and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, BMO Capital Markets restated a “hold” rating and set a $26.00 price target on shares of Ardagh Group in a research note on Wednesday, October 18th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.35.
Ardagh Group (NYSE:ARD) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. sell-side analysts expect that Ardagh Group SA will post 0.95 earnings per share for the current fiscal year.
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Ardagh Group Company Profile
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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