Bank of America Downgrades Ardagh Metal Packaging (NYSE:AMBP) to Underperform

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) was downgraded by analysts at Bank of America from a "neutral" rating to an "underperform" rating in a report issued on Monday, Marketbeat.com reports. They presently have a $3.50 target price on the stock, down from their prior target price of $4.10. Bank of America's price objective indicates a potential upside of 2.64% from the stock's previous close.

AMBP has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of Ardagh Metal Packaging from $4.00 to $3.70 and set an "equal weight" rating for the company in a report on Friday, February 23rd. Morgan Stanley began coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They issued an "underweight" rating and a $3.20 price objective on the stock. Truist Financial reissued a "hold" rating and issued a $3.00 price objective (down previously from $4.00) on shares of Ardagh Metal Packaging in a research report on Monday, February 26th. Barclays lowered shares of Ardagh Metal Packaging from an "overweight" rating to an "equal weight" rating and set a $4.00 price objective on the stock. in a research report on Monday, January 8th. Finally, UBS Group began coverage on shares of Ardagh Metal Packaging in a research report on Tuesday, January 16th. They issued a "buy" rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.30.

Ardagh Metal Packaging Trading Down 0.6 %

NYSE AMBP traded down $0.02 during trading on Monday, reaching $3.41. 1,682,923 shares of the stock traded hands, compared to its average volume of 1,114,007. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -28.42, a price-to-earnings-growth ratio of 0.69 and a beta of 0.75. The stock's 50-day moving average price is $3.55 and its 200 day moving average price is $3.51. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 34.34. Ardagh Metal Packaging has a fifty-two week low of $2.57 and a fifty-two week high of $4.29.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts predict that Ardagh Metal Packaging will post 0.18 EPS 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 business. Goldman Sachs Group Inc. grew its stake in Ardagh Metal Packaging by 91.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,595,940 shares of the company's stock worth $9,968,000 after buying an additional 1,237,616 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth about $64,000. Price T Rowe Associates Inc. MD grew its stake in Ardagh Metal Packaging by 13.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,959 shares of the company's stock worth $108,000 after buying an additional 3,412 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth about $622,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Ardagh Metal Packaging during the fourth quarter worth about $85,000. 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.