UBS Group Increases Ardagh Metal Packaging (NYSE:AMBP) Price Target to $4.50

Ardagh Metal Packaging (NYSE:AMBP - Free Report) had its target price hoisted by UBS Group from $3.40 to $4.50 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on AMBP. Morgan Stanley increased their target price on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Citigroup raised their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of "Hold" and a consensus target price of $4.19.

Ardagh Metal Packaging Trading Up 0.4%

NYSE:AMBP traded up $0.02 during trading hours on Wednesday, hitting $4.74. The company's stock had a trading volume of 988,774 shares, compared to its average volume of 1,635,156. The stock has a market capitalization of $2.83 billion, a P/E ratio of -118.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.56. The stock has a fifty day moving average of $4.07 and a 200-day moving average of $3.29. Ardagh Metal Packaging has a 52-week low of $2.50 and a 52-week high of $4.78.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.17 billion. Ardagh Metal Packaging had a negative return on equity of 112.58% and a net margin of 0.08%. Ardagh Metal Packaging's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, sell-side analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.40 dividend on an annualized basis and a yield of 8.44%. Ardagh Metal Packaging's payout ratio is currently -1,000.00%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently modified their holdings of AMBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ardagh Metal Packaging by 172.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,324,218 shares of the company's stock valued at $28,159,000 after acquiring an additional 5,902,246 shares during the period. Anchorage Capital Advisors L.P. acquired a new stake in shares of Ardagh Metal Packaging during the 4th quarter valued at approximately $5,830,000. King Street Capital Management L.P. lifted its position in shares of Ardagh Metal Packaging by 155.0% during the 4th quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company's stock valued at $7,676,000 after acquiring an additional 1,550,000 shares during the period. CenterBook Partners LP increased its stake in shares of Ardagh Metal Packaging by 161.0% during the 4th quarter. CenterBook Partners LP now owns 2,370,730 shares of the company's stock worth $7,136,000 after purchasing an additional 1,462,548 shares in the last quarter. Finally, Mountaineer Partners Management LLC purchased a new position in shares of Ardagh Metal Packaging during the 4th quarter worth approximately $3,184,000. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.