Ardagh Metal Packaging (NYSE:AMBP) Upgraded to Hold at Zacks Investment Research

Ardagh Metal Packaging (NYSE:AMBPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Ardagh Metal Packaging S.A. is a provider of sustainable and infinitely-recyclable beverage cans. Ardagh Metal Packaging S.A., formerly known as Gores Holdings V Inc., is based in LUXEMBOURG. “

A number of other analysts have also issued reports on AMBP. BMO Capital Markets upgraded Ardagh Metal Packaging from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research note on Thursday, January 20th. Wells Fargo & Company reduced their target price on Ardagh Metal Packaging from $13.60 to $13.10 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Barclays reduced their target price on Ardagh Metal Packaging from $10.00 to $9.00 in a research report on Monday, May 2nd. Finally, Credit Suisse Group reduced their target price on Ardagh Metal Packaging from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.79.

Ardagh Metal Packaging stock traded down $0.02 during trading hours on Thursday, hitting $6.18. The stock had a trading volume of 142,634 shares, compared to its average volume of 1,238,549. The company has a debt-to-equity ratio of 9.90, a current ratio of 1.19 and a quick ratio of 0.90. Ardagh Metal Packaging has a one year low of $6.06 and a one year high of $12.43. The business’s 50 day simple moving average is $7.80 and its 200-day simple moving average is $8.66.

Ardagh Metal Packaging (NYSE:AMBPGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Analysts expect that Ardagh Metal Packaging will post 0.43 EPS for the current year.

Several large investors have recently made changes to their positions in AMBP. Weiss Multi Strategy Advisers LLC raised its stake in Ardagh Metal Packaging by 5.3% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 6,534,591 shares of the company’s stock worth $59,007,000 after buying an additional 330,072 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Ardagh Metal Packaging by 22.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,652,158 shares of the company’s stock valued at $45,952,000 after buying an additional 1,040,290 shares during the last quarter. Diameter Capital Partners LP grew its holdings in shares of Ardagh Metal Packaging by 67.5% during the fourth quarter. Diameter Capital Partners LP now owns 5,026,052 shares of the company’s stock valued at $45,385,000 after buying an additional 2,026,052 shares during the last quarter. Canyon Capital Advisors LLC purchased a new stake in shares of Ardagh Metal Packaging during the third quarter valued at $39,840,000. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Ardagh Metal Packaging during the third quarter valued at $39,840,000.

Ardagh Metal Packaging Company Profile (Get Rating)

Ardagh Metal Packaging SA supplies 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. The company serves beverage producers.

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