Ardagh Metal Packaging (NYSE:AMBP) Rating Lowered to "Underperform" at Bank of America

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) was downgraded by Bank of America from a "buy" rating to an "underperform" rating in a report released on Wednesday, MarketBeat.com reports. They currently have a $4.00 target price on the stock, down from their prior target price of $4.90. Bank of America's target price points to a potential upside of 25.39% from the company's previous close.

AMBP has been the topic of a number of other research reports. Wells Fargo & Company upgraded Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Citigroup boosted their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $3.92.

Ardagh Metal Packaging Stock Down 8.1 %

Shares of Ardagh Metal Packaging stock traded down $0.28 during trading on Wednesday, hitting $3.19. 2,849,196 shares of the stock traded hands, compared to its average volume of 1,361,380. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 124.21. The stock's fifty day simple moving average is $3.74 and its 200 day simple moving average is $3.65. The firm has a market cap of $1.91 billion, a P/E ratio of -27.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.61. Ardagh Metal Packaging has a 52-week low of $3.16 and a 52-week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. Ardagh Metal Packaging's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. On average, equities analysts predict that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardagh Metal Packaging

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Ardagh Metal Packaging by 11.1% in the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company's stock valued at $3,655,000 after buying an additional 106,206 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ardagh Metal Packaging by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the company's stock valued at $113,000 after acquiring an additional 4,922 shares during the period. SG Americas Securities LLC increased its holdings in Ardagh Metal Packaging by 89.2% in the 2nd quarter. SG Americas Securities LLC now owns 196,515 shares of the company's stock worth $668,000 after acquiring an additional 92,675 shares in the last quarter. Bank of New York Mellon Corp raised its position in Ardagh Metal Packaging by 58.9% during the second quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company's stock worth $1,677,000 after acquiring an additional 182,906 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company's stock worth $66,000 after purchasing an additional 5,009 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.