Ardagh Metal Packaging (NYSE:AMBP) Downgraded by Bank of America

Bank of America lowered shares of Ardagh Metal Packaging (NYSE:AMBPFree Report) from a neutral rating to an underperform rating in a research note released on Monday morning, Marketbeat Ratings reports. Bank of America currently has $3.50 target price on the stock, down from their prior target price of $4.10.

AMBP has been the subject of a number of other research reports. UBS Group initiated coverage on shares of Ardagh Metal Packaging in a research note on Tuesday, January 16th. They issued a buy rating and a $5.00 price target for the company. Morgan Stanley assumed coverage on shares of Ardagh Metal Packaging in a research report on Monday, March 18th. They set an underweight rating and a $3.20 price objective for the company. Wells Fargo & Company cut their price target on shares of Ardagh Metal Packaging from $4.00 to $3.70 and set an equal weight rating for the company in a report on Friday, February 23rd. Truist Financial reiterated a hold rating and issued a $3.00 price target (down previously from $4.00) on shares of Ardagh Metal Packaging in a report on Monday, February 26th. Finally, Barclays downgraded shares of Ardagh Metal Packaging from an overweight rating to an equal weight rating and set a $4.00 target price for the company. in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Ardagh Metal Packaging currently has an average rating of Hold and a consensus target price of $4.30.

View Our Latest Stock Analysis on AMBP

Ardagh Metal Packaging Price Performance

Ardagh Metal Packaging stock opened at $3.48 on Monday. Ardagh Metal Packaging has a 12-month low of $2.57 and a 12-month high of $4.29. The stock has a market cap of $2.08 billion, a P/E ratio of -28.96, a PEG ratio of 0.69 and a beta of 0.75. The company has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.51. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 34.34.

Ardagh Metal Packaging (NYSE:AMBPGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Ardagh Metal Packaging had a negative net margin of 1.04% and a positive return on equity of 38.48%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. Ardagh Metal Packaging’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Ardagh Metal Packaging will post 0.18 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 11.51%. Ardagh Metal Packaging’s dividend payout ratio is presently -333.33%.

Institutional Investors Weigh In On Ardagh Metal Packaging

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Ardagh Metal Packaging by 1,382.5% during the fourth quarter. Bank of America Corp DE now owns 4,682,134 shares of the company’s stock valued at $22,521,000 after purchasing an additional 4,366,315 shares during the period. Canyon Capital Advisors LLC boosted its holdings in Ardagh Metal Packaging by 69.0% in the first quarter. Canyon Capital Advisors LLC now owns 10,154,743 shares of the company’s stock worth $41,431,000 after purchasing an additional 4,146,893 shares during the period. BW Gestao de Investimentos Ltda. boosted its holdings in shares of Ardagh Metal Packaging by 771.2% during the third quarter. BW Gestao de Investimentos Ltda. now owns 2,783,639 shares of the company’s stock valued at $8,713,000 after acquiring an additional 2,464,105 shares during the period. Grizzlyrock Capital LLC acquired a new position in shares of Ardagh Metal Packaging during the fourth quarter valued at $9,360,000. Finally, Brightline Capital Management LLC acquired a new position in shares of Ardagh Metal Packaging during the fourth quarter valued at $8,582,000. 16.93% of the stock is owned by institutional investors and hedge funds.

About Ardagh Metal Packaging

(Get Free Report)

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.

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Analyst Recommendations for Ardagh Metal Packaging (NYSE:AMBP)

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