Ardagh Metal Packaging (NYSE:AMBP) Stock Rating Upgraded by Morgan Stanley

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) was upgraded by equities researchers at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a report issued on Monday, Marketbeat.com reports. The brokerage currently has a $3.10 price objective on the stock, down from their previous price objective of $3.60. Morgan Stanley's target price suggests a potential upside of 9.93% from the stock's previous close.

A number of other research firms have also recently weighed in on AMBP. Citigroup dropped their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company dropped their price target on shares of Ardagh Metal Packaging from $5.00 to $3.60 and set an "overweight" rating on the stock in a research note on Monday, January 6th. UBS Group reduced their price objective on Ardagh Metal Packaging from $4.25 to $2.75 and set a "neutral" rating for the company in a research report on Friday. Finally, Bank of America cut Ardagh Metal Packaging from a "buy" rating to an "underperform" rating and lowered their target price for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $3.41.

Ardagh Metal Packaging Stock Performance

Shares of NYSE AMBP traded up $0.14 during trading on Monday, reaching $2.82. The stock had a trading volume of 1,938,395 shares, compared to its average volume of 1,807,782. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market cap of $1.69 billion, a PE ratio of -23.50, a P/E/G ratio of 0.79 and a beta of 0.65. Ardagh Metal Packaging has a one year low of $2.66 and a one year high of $4.26. The firm's 50 day moving average price is $3.34 and its two-hundred day moving average price is $3.52.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, research analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew 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 valued at $1,677,000 after purchasing an additional 182,906 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Ardagh Metal Packaging by 34.5% in the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company's stock worth $66,000 after buying an additional 5,009 shares during the last quarter. Rhumbline Advisers raised its position in Ardagh Metal Packaging by 11.5% during the second quarter. Rhumbline Advisers now owns 165,578 shares of the company's stock valued at $563,000 after acquiring an additional 17,104 shares in the last quarter. American Century Companies Inc. lifted its stake in Ardagh Metal Packaging by 14.3% in the second quarter. American Century Companies Inc. now owns 215,156 shares of the company's stock valued at $732,000 after acquiring an additional 26,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Ardagh Metal Packaging by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 749,853 shares of the company's stock worth $2,550,000 after acquiring an additional 15,637 shares in the last quarter. 16.93% of the stock is 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.