Royal Bank Of Canada Initiates Coverage on Ardagh Group S.A. (ARD)

Royal Bank Of Canada began coverage on shares of Ardagh Group S.A. (NYSE:ARD) in a research report released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $26.00 target price on the stock.

ARD has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Ardagh Group from a buy rating to a hold rating in a report on Thursday, September 21st. Barclays PLC reaffirmed a hold rating and issued a $23.00 price target on shares of Ardagh Group in a report on Wednesday, August 2nd. Finally, BMO Capital Markets began coverage on shares of Ardagh Group in a report on Monday, June 19th. They issued a market perform rating and a $26.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ardagh Group has an average rating of Buy and a consensus target price of $24.35.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.24. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. The firm’s revenue for the quarter was up 57.8% on a year-over-year basis.

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A number of institutional investors have recently bought and sold shares of ARD. SG Americas Securities LLC purchased a new stake in Ardagh Group in the 1st quarter worth about $239,000. Wellington Management Group LLP purchased a new stake in Ardagh Group in the 1st quarter worth about $21,002,000. FMR LLC purchased a new stake in Ardagh Group in the 1st quarter worth about $6,452,000. Ngam Advisors L.P. purchased a new stake in Ardagh Group in the 1st quarter worth about $644,000. Finally, UBS Group AG purchased a new stake in Ardagh Group in the 1st quarter worth about $2,913,000. 99.93% of the stock is currently owned by institutional investors.

Ardagh Group Company Profile

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.

Analyst Recommendations for Ardagh Group (NYSE:ARD)

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