Weiss Ratings Reiterates Hold (C) Rating for Ardagh Metal Packaging (NYSE:AMBP)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Ardagh Metal Packaging (NYSE: AMBP), indicating a cautious outlook.
• Analysts have varied target price adjustments for the stock, with UBS Group lowering it from $4.00 to $3.75 while Citigroup raised it from $4.00 to $5.00, reflecting mixed sentiment in the market.
• Ardagh Metal Packaging reported a 15.6% increase in revenue year-over-year, achieving $1.46 billion for the quarter, surpassing analyst expectations.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. UBS Group reduced their target price on Ardagh Metal Packaging from $4.00 to $3.75 and set a "neutral" rating on the stock in a research note on Monday. Citigroup increased their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Morgan Stanley increased their target price on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company cut their price target on Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating for the company in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of "Hold" and an average price target of $4.27.

Ardagh Metal Packaging Price Performance

Shares of Ardagh Metal Packaging stock traded up $0.01 during trading hours on Wednesday, hitting $3.71. 160,947 shares of the company's stock traded hands, compared to its average volume of 1,692,193. Ardagh Metal Packaging has a 12-month low of $2.50 and a 12-month high of $4.78. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -123.50, a PEG ratio of 1.33 and a beta of 0.56. The company has a fifty day simple moving average of $3.77 and a 200-day simple moving average of $3.76.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.33 billion. Ardagh Metal Packaging had a negative return on equity of 76.86% and a net margin of 0.13%.The firm's revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, analysts forecast that Ardagh Metal Packaging will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ardagh Metal Packaging by 8.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,069,139 shares of the company's stock valued at $43,096,000 after acquiring an additional 744,921 shares during the last quarter. Private Management Group Inc. grew its position in Ardagh Metal Packaging by 4.8% in the first quarter. Private Management Group Inc. now owns 5,690,572 shares of the company's stock worth $17,186,000 after acquiring an additional 258,298 shares during the period. Anchorage Capital Advisors L.P. grew its position in Ardagh Metal Packaging by 85.9% in the first quarter. Anchorage Capital Advisors L.P. now owns 3,601,083 shares of the company's stock worth $10,875,000 after acquiring an additional 1,664,083 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Ardagh Metal Packaging by 3,867.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,546,227 shares of the company's stock worth $15,178,000 after acquiring an additional 3,456,833 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in shares of Ardagh Metal Packaging by 1.5% during the second quarter. Gilman Hill Asset Management LLC now owns 1,997,263 shares of the company's stock worth $8,548,000 after buying an additional 30,176 shares during the period. Institutional investors and hedge funds own 16.93% of the company's stock.

Ardagh Metal Packaging Company Profile

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.

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