Ardagh Metal Packaging (NYSE:AMBP) Upgraded to "Overweight" by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ardagh Metal Packaging (NYSE:AMBP - Free Report) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Wells Fargo & Company currently has $5.00 target price on the stock, up from their previous target price of $4.25.

Other analysts also recently issued reports about the stock. UBS Group downgraded shares of Ardagh Metal Packaging from a buy rating to a neutral rating and lowered their price objective for the company from $5.00 to $3.75 in a report on Wednesday, July 17th. Citigroup lifted their price target on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a buy rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $3.85.

Ardagh Metal Packaging Trading Up 3.4 %

NYSE:AMBP traded up $0.13 on Tuesday, reaching $3.96. The company's stock had a trading volume of 2,914,884 shares, compared to its average volume of 1,333,583. The business's 50-day moving average price is $3.58 and its two-hundred day moving average price is $3.65. Ardagh Metal Packaging has a 1-year low of $2.57 and a 1-year high of $4.17. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.66 and a current ratio of 0.95. The firm has a market cap of $2.37 billion, a PE ratio of -28.29, a PEG ratio of 0.79 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the company earned $0.04 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.40 annualized dividend and a yield of 10.10%. Ardagh Metal Packaging's dividend payout ratio (DPR) is currently -285.71%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of large investors have recently added to or reduced their stakes in AMBP. King Street Capital Management L.P. acquired a new stake in Ardagh Metal Packaging during the 2nd quarter worth approximately $14,790,000. Vanguard Group Inc. lifted its stake in Ardagh Metal Packaging by 11.1% during the first quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company's stock worth $3,655,000 after purchasing an additional 106,206 shares during the last quarter. Renaissance Technologies LLC grew its position in Ardagh Metal Packaging by 48.7% in the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company's stock valued at $4,505,000 after acquiring an additional 433,700 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Ardagh Metal Packaging by 12.0% during the first quarter. Gabelli Funds LLC now owns 112,000 shares of the company's stock worth $384,000 after buying an additional 12,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ardagh Metal Packaging by 58.9% in 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 during the last quarter. Institutional investors 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.