Ardagh Metal Packaging (NYSE:AMBP) Sets New 1-Year High - Here's Why

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $4.20 and last traded at $4.20, with a volume of 87193 shares traded. The stock had previously closed at $4.14.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMBP shares. UBS Group lowered Ardagh Metal Packaging from a "buy" rating to a "neutral" rating and decreased their target price for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Wells Fargo & Company upgraded shares of 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 report on Tuesday. Bank of America upgraded shares of Ardagh Metal Packaging from an "underperform" rating to a "buy" rating and increased their price objective for the company from $3.80 to $5.10 in a report on Thursday. Finally, Citigroup increased their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a "buy" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Ardagh Metal Packaging currently has a consensus rating of "Hold" and a consensus target price of $4.08.

Ardagh Metal Packaging Stock Performance

The firm has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $3.67. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. The company has a market cap of $2.53 billion, a PE ratio of -30.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm posted $0.04 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date of this dividend was Thursday, September 12th. Ardagh Metal Packaging's payout ratio is currently -285.71%.

Institutional Trading of Ardagh Metal Packaging

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC lifted its holdings in shares of Ardagh Metal Packaging by 70.4% in the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company's stock valued at $46,000 after buying an additional 5,000 shares during the period. Catalina Capital Group LLC acquired a new stake in Ardagh Metal Packaging in the first quarter valued at $42,000. Quarry LP purchased a new stake in shares of Ardagh Metal Packaging during the 2nd quarter worth $45,000. Principal Financial Group Inc. boosted its position in shares of Ardagh Metal Packaging by 34.5% during the 2nd 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. Finally, Gries Financial LLC acquired a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth $77,000. 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.