Ardagh Metal Packaging (NYSE:AMBP) Price Target Raised to $5.00 at Wells Fargo & Company

Ardagh Metal Packaging (NYSE:AMBP) had its price target increased by Wells Fargo & Company from $4.00 to $5.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Weiss Ratings raised Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Citigroup dropped their target price on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, UBS Group cut their price target on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating on the stock in a report on Friday, April 10th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ardagh Metal Packaging has a consensus rating of “Hold” and an average target price of $4.71.

Ardagh Metal Packaging Trading Up 2.1%

Shares of AMBP opened at $4.51 on Wednesday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 0.94 and a beta of 0.51. The stock’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.30. Ardagh Metal Packaging has a twelve month low of $3.29 and a twelve month high of $5.03.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $1.50 billion for the quarter. Ardagh Metal Packaging had a negative return on equity of 31.14% and a net margin of 0.19%. Sell-side analysts predict that Ardagh Metal Packaging will post 0.25 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arini Captial Management Ltd purchased a new stake in Ardagh Metal Packaging during the 4th quarter worth $46,109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 323,790 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ardagh Metal Packaging by 8.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,791,368 shares of the company’s stock valued at $27,845,000 after buying an additional 545,227 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ardagh Metal Packaging by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock valued at $18,779,000 after acquiring an additional 801,019 shares in the last quarter. Finally, Weiss Asset Management LP grew its stake in shares of Ardagh Metal Packaging by 11,276.2% during the first quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock valued at $18,291,000 after acquiring an additional 4,476,638 shares in the last quarter. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

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.