Ardagh Metal Packaging (NYSE:AMBP) Hits New 12-Month High on Earnings Beat

Key Points

• Ardagh Metal Packaging hit a new 52-week high after reporting quarterly earnings of $0.11 per share, topping analyst expectations of $0.09.
• Revenue rose 17.7% year over year, and the stock traded as high as $5.43 before easing back in midday trading.
• Wall Street sentiment remains cautious: the stock’s average rating is Hold, with an average price target of $4.71 despite some recent price-target increases.

Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $5.43 and last traded at $4.9740, with a volume of 1115704 shares traded. The stock had previously closed at $4.71.

The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Ardagh Metal Packaging had a negative return on equity of 31.14% and a net margin of 0.19%.The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings upgraded Ardagh Metal Packaging from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. UBS Group lowered their price target on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a "neutral" rating on the stock in a report on Friday, April 10th. Finally, Citigroup dropped their price objective on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.71.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Ardagh Metal Packaging by 697.8% during the first quarter. AQR Capital Management LLC now owns 317,625 shares of the company's stock valued at $959,000 after acquiring an additional 277,813 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ardagh Metal Packaging during the 1st quarter worth about $43,000. Creative Planning acquired a new position in Ardagh Metal Packaging in the second quarter valued at about $109,000. JPMorgan Chase & Co. grew its stake in Ardagh Metal Packaging by 310.1% during the second quarter. JPMorgan Chase & Co. now owns 729,506 shares of the company's stock worth $3,122,000 after buying an additional 551,616 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Ardagh Metal Packaging during the second quarter worth approximately $224,000. Institutional investors and hedge funds own 16.93% of the company's stock.

Ardagh Metal Packaging Price Performance

The company has a market cap of $2.97 billion, a P/E ratio of 19.54, a PEG ratio of 1.00 and a beta of 0.51. The business's 50 day moving average price is $4.34 and its 200-day moving average price is $4.32.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging NYSE: AMBP is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.

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