Ardagh Group SA (NYSE:ARD) has earned an average recommendation of “Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.15.
Several analysts have commented on the stock. ValuEngine lowered shares of Ardagh Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Ardagh Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. BMO Capital Markets reiterated a “hold” rating and set a $26.00 target price on shares of Ardagh Group in a report on Wednesday, October 18th. Finally, Royal Bank of Canada set a $25.00 target price on shares of Ardagh Group and gave the company a “buy” rating in a report on Monday, October 30th.
Several hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in shares of Ardagh Group by 24.2% during the fourth quarter. Schroder Investment Management Group now owns 1,043,891 shares of the company’s stock valued at $22,026,000 after purchasing an additional 203,387 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Ardagh Group by 35.2% during the third quarter. Mackenzie Financial Corp now owns 386,821 shares of the company’s stock valued at $8,282,000 after purchasing an additional 100,708 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Ardagh Group during the second quarter valued at approximately $3,761,000. Wells Fargo & Company MN lifted its holdings in shares of Ardagh Group by 528.8% during the third quarter. Wells Fargo & Company MN now owns 73,823 shares of the company’s stock valued at $1,580,000 after purchasing an additional 62,083 shares during the last quarter. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Ardagh Group during the second quarter valued at approximately $1,665,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, February 26th. This represents a $0.56 annualized dividend and a dividend yield of 3.11%.
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About Ardagh Group
Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.
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