Truist Financial Forecasts Strong Price Appreciation for Ardagh Metal Packaging (NYSE:AMBP) Stock

Ardagh Metal Packaging (NYSE:AMBP) had its price objective hoisted by stock analysts at Truist Financial from $4.00 to $5.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 16.69% from the company’s current price.

AMBP has been the topic of a number of other research reports. Raymond James Financial assumed coverage on shares of Ardagh Metal Packaging in a research note on Wednesday, October 15th. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ardagh Metal Packaging in a research report on Wednesday, October 8th. UBS Group set a $3.60 price target on shares of Ardagh Metal Packaging in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging presently has an average rating of “Hold” and a consensus target price of $4.34.

Ardagh Metal Packaging Trading Up 2.0%

Shares of Ardagh Metal Packaging stock opened at $4.29 on Tuesday. The firm has a market cap of $2.56 billion, a PE ratio of -428.50, a PEG ratio of 0.96 and a beta of 0.55. The stock has a 50 day moving average of $3.85 and a 200 day moving average of $3.92. Ardagh Metal Packaging has a 12 month low of $2.50 and a 12 month high of $4.78.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.39 billion. Ardagh Metal Packaging had a negative return on equity of 58.16% and a net margin of 0.30%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ardagh Metal Packaging by 3.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,392,929 shares of the company’s stock valued at $41,468,000 after acquiring an additional 323,790 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ardagh Metal Packaging by 3,867.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,546,227 shares of the company’s stock valued at $15,178,000 after purchasing an additional 3,456,833 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ardagh Metal Packaging by 18.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,486,321 shares of the company’s stock valued at $13,909,000 after purchasing an additional 541,261 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Ardagh Metal Packaging by 603.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,357,953 shares of the company’s stock worth $9,408,000 after purchasing an additional 2,022,889 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its stake in Ardagh Metal Packaging by 0.9% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 2,014,500 shares of the company’s stock worth $8,038,000 after buying an additional 17,237 shares during the period. Institutional investors own 16.93% of the company’s stock.

About Ardagh Metal Packaging

Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.

The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.