Ardagh Metal Packaging (NYSE:AMBP) Lifted to "Buy" at Bank of America

Bank of America upgraded shares of Ardagh Metal Packaging (NYSE:AMBP - Free Report) from an underperform rating to a buy rating in a research note published on Thursday, MarketBeat reports. They currently have $5.10 target price on the stock, up from their previous target price of $3.80.

A number of other analysts have also recently commented on the company. Wells Fargo & Company raised Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $4.25 to $5.00 in a research report on Tuesday. UBS Group lowered Ardagh Metal Packaging from a "buy" rating to a "neutral" rating and dropped their target price for the company from $5.00 to $3.75 in a research report on Wednesday, July 17th. Finally, Citigroup raised their price target 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. 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 has a consensus rating of "Hold" and a consensus target price of $4.08.

Ardagh Metal Packaging Stock Up 4.3 %

Shares of AMBP traded up $0.17 during midday trading on Thursday, hitting $4.14. 1,970,851 shares of the company's stock traded hands, compared to its average volume of 1,338,900. Ardagh Metal Packaging has a 1 year low of $2.57 and a 1 year high of $4.17. The firm's fifty day moving average is $3.61 and its 200-day moving average is $3.66. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 124.21. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -29.57, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.04 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date of this dividend was Thursday, September 12th. Ardagh Metal Packaging's payout ratio is presently -285.71%.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBP. King Street Capital Management L.P. acquired a new stake in shares of Ardagh Metal Packaging during the 2nd quarter valued at about $14,790,000. Squarepoint Ops LLC raised its position in shares of Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company's stock worth $10,568,000 after purchasing an additional 2,446,997 shares during the last quarter. Gilman Hill Asset Management LLC lifted its stake in Ardagh Metal Packaging by 1.3% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 1,805,704 shares of the company's stock valued at $6,139,000 after buying an additional 23,458 shares in the last quarter. Keeley Teton Advisors LLC increased its stake in Ardagh Metal Packaging by 0.5% during the 1st quarter. Keeley Teton Advisors LLC now owns 1,695,498 shares of the company's stock worth $5,816,000 after buying an additional 8,433 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Ardagh Metal Packaging by 48.7% during 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. 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.