Wells Fargo & Company Raises Ardagh Metal Packaging (NYSE:AMBP) Price Target to $5.00

Key Points

• Wells Fargo raised Ardagh Metal Packaging’s price target from $4.00 to $5.00 while keeping an equal weight rating. The new target implies about 13.25% upside from the current share price.
• Other analysts have been mixed on AMBP, with recent target cuts from Citigroup and UBS Group. Overall, the stock now carries a Hold consensus rating and a $4.71 consensus price target.
• Ardagh Metal Packaging recently opened at $4.42 and reported $0.05 EPS on $1.50 billion in quarterly revenue. The company has a market cap of about $2.64 billion and institutional investors own roughly 16.93% of shares.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $4.00 to $5.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 13.25% from the company's current price.

AMBP has been the topic of a number of other reports. Weiss Ratings raised shares of Ardagh Metal Packaging from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 29th. Citigroup cut their target price on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Finally, UBS Group reduced 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. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.71.

Ardagh Metal Packaging Price Performance

NYSE AMBP opened at $4.42 on Wednesday. The business has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.29. The company has a market capitalization of $2.64 billion, a P/E ratio of 18.58, a PEG ratio of 0.95 and a beta of 0.51. Ardagh Metal Packaging has a 1-year low of $3.29 and a 1-year high of $5.03.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. Ardagh Metal Packaging had a negative return on equity of 31.14% and a net margin of 0.19%.The company had revenue of $1.50 billion for the quarter. On average, research analysts expect that Ardagh Metal Packaging will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of institutional investors have recently modified their holdings of the company. Optiver Holding B.V. grew its stake in Ardagh Metal Packaging by 540.2% in the 1st quarter. Optiver Holding B.V. now owns 7,145 shares of the company's stock worth $29,000 after acquiring an additional 6,029 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth $33,000. Pallas Capital Advisors LLC acquired a new stake in shares of Ardagh Metal Packaging during the fourth quarter worth $42,000. Abel Hall LLC purchased a new stake in shares of Ardagh Metal Packaging in the first quarter valued at $42,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ardagh Metal Packaging in the first quarter valued at $43,000. Institutional investors and hedge funds own 16.93% of the company's stock.

About Ardagh Metal Packaging

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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