Ardagh Metal Packaging (NYSE:AMBP) Shares Gap Down - Here's Why

Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $4.19, but opened at $3.85. Ardagh Metal Packaging shares last traded at $3.92, with a volume of 173,103 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMBP shares. Wells Fargo & Company upgraded Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $4.25 to $5.00 in a report on Tuesday, October 15th. UBS Group downgraded Ardagh Metal Packaging from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $5.00 to $3.75 in a research note on Wednesday, July 17th. Citigroup lifted their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Finally, Bank of America upgraded Ardagh Metal Packaging from an "underperform" rating to a "buy" rating and upped their target price for the company from $3.80 to $5.10 in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ardagh Metal Packaging presently has a consensus rating of "Hold" and an average target price of $4.08.

Ardagh Metal Packaging Stock Performance

The company has a market cap of $2.33 billion, a price-to-earnings ratio of -27.79, a P/E/G ratio of 0.79 and a beta of 0.62. The company has a debt-to-equity ratio of 124.21, a current ratio of 0.95 and a quick ratio of 0.66. The firm has a fifty day simple moving average of $3.68 and a 200 day simple moving average of $3.68.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. Ardagh Metal Packaging had a negative net margin of 1.02% and a positive return on equity of 114.77%. The business's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, sell-side analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Catalina Capital Group LLC acquired a new position in shares of Ardagh Metal Packaging in the first quarter valued at $42,000. Ballentine Partners LLC acquired a new position in shares of Ardagh Metal Packaging in the 3rd quarter valued at $42,000. Quarry LP bought a new position in shares of Ardagh Metal Packaging during the 2nd quarter worth about $45,000. nVerses Capital LLC boosted its position in shares of Ardagh Metal Packaging by 70.4% during the 3rd quarter. nVerses Capital LLC now owns 12,100 shares of the company's stock valued at $46,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake 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 valued at $66,000 after acquiring an additional 5,009 shares during the period. Institutional investors and hedge funds own 16.93% of the company's stock.

About Ardagh Metal Packaging

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.