Ardagh Metal Packaging (NYSE:AMBP) Sets New 12-Month Low – Time to Sell?

Ardagh Metal Packaging S.A. (NYSE:AMBP) hit a new 52-week low during trading on Thursday . The company traded as low as $2.66 and last traded at $2.67, with a volume of 367545 shares trading hands. The stock had previously closed at $2.70.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup decreased their price target on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group lowered their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $3.35 target price (down from $3.60) on shares of Ardagh Metal Packaging in a report on Thursday, January 16th. Finally, Bank of America lowered Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their price target for the company from $4.90 to $4.00 in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.37.

Ardagh Metal Packaging Stock Down 2.8 %

The firm has a fifty day simple moving average of $3.03 and a 200-day simple moving average of $3.43. The company has a market capitalization of $1.57 billion, a P/E ratio of -21.87, a P/E/G ratio of 0.54 and a beta of 0.64.

Hedge Funds Weigh In On Ardagh Metal Packaging

Several institutional investors and hedge funds have recently modified their holdings of AMBP. Citigroup Inc. increased its stake in Ardagh Metal Packaging by 15,834.1% during the 3rd quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after acquiring an additional 5,072,769 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ardagh Metal Packaging by 37.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock valued at $6,704,000 after acquiring an additional 489,146 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Ardagh Metal Packaging by 422.4% in the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock valued at $1,085,000 after buying an additional 258,067 shares during the period. Point72 Asset Management L.P. raised its position in Ardagh Metal Packaging by 99.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 284,375 shares of the company’s stock worth $1,072,000 after purchasing an additional 141,850 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Ardagh Metal Packaging by 36,067.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 134,183 shares of the company’s stock worth $399,000 after acquiring an additional 133,812 shares during the period. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer 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.