Ardagh Metal Packaging (NYSE:AMBP) Given New $5.00 Price Target at Citigroup

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) had its price objective raised by Citigroup from $4.00 to $5.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective points to a potential upside of 10.50% from the company's current price.

Separately, Morgan Stanley lifted their price objective on Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.84.

Ardagh Metal Packaging Stock Performance

Shares of NYSE:AMBP traded up $0.10 during trading on Thursday, reaching $4.53. 680,731 shares of the stock traded hands, compared to its average volume of 1,634,144. The stock has a 50-day moving average of $3.98 and a two-hundred day moving average of $3.23. Ardagh Metal Packaging has a 52-week low of $2.50 and a 52-week high of $4.53. The stock has a market cap of $2.70 billion, a P/E ratio of -113.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56.

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

Hedge Funds Weigh In On Ardagh Metal Packaging

Several institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its stake in Ardagh Metal Packaging by 140.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,173 shares of the company's stock valued at $28,000 after buying an additional 5,361 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Ardagh Metal Packaging during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC boosted its stake in shares of Ardagh Metal Packaging by 292.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company's stock worth $33,000 after acquiring an additional 8,180 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ardagh Metal Packaging during the first quarter worth approximately $33,000. Finally, Xponance Inc. purchased a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 16.93% of the company's stock.

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.