Ardagh Metal Packaging (NYSE:AMBP) Hits New 12-Month High on Earnings Beat

Ardagh Metal Packaging S.A. (NYSE:AMBP) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $5.43 and last traded at $4.9740, with a volume of 1115704 shares. The stock had previously closed at $4.71.

The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Ardagh Metal Packaging had a negative return on equity of 31.14% and a net margin of 0.19%.The company’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Ardagh Metal Packaging from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. UBS Group reduced their target price on shares of Ardagh Metal Packaging from $4.75 to $4.25 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Citigroup lowered their price target on shares of Ardagh Metal Packaging from $6.00 to $5.00 and set a “buy” rating for the company in a report on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. 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, the stock currently has a consensus rating of “Hold” and an average target price of $4.71.

Institutional Trading of Ardagh Metal Packaging

Institutional investors and hedge funds have recently made changes to their positions in the business. Arini Captial Management Ltd bought a new position in shares of Ardagh Metal Packaging in the 4th quarter worth $46,109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ardagh Metal Packaging by 3.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,392,929 shares of the company’s stock valued at $41,468,000 after purchasing an additional 323,790 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Ardagh Metal Packaging by 8.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,791,368 shares of the company’s stock valued at $27,845,000 after purchasing an additional 545,227 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Ardagh Metal Packaging by 20.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,637,767 shares of the company’s stock valued at $18,779,000 after buying an additional 801,019 shares during the period. Finally, Weiss Asset Management LP lifted its stake in Ardagh Metal Packaging by 11,276.2% in the first quarter. Weiss Asset Management LP now owns 4,516,338 shares of the company’s stock valued at $18,291,000 after buying an additional 4,476,638 shares during the period. Institutional investors own 16.93% of the company’s stock.

Ardagh Metal Packaging Stock Up 5.6%

The stock has a market cap of $2.97 billion, a P/E ratio of 19.54, a PEG ratio of 1.00 and a beta of 0.51. The stock has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $4.32.

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.