Ardagh Group SA (NYSE:ARD) Short Interest Update

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Ardagh Group SA (NYSE:ARD) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 137,800 shares, a drop of 24.0% from the May 15th total of 181,200 shares. Based on an average trading volume of 77,600 shares, the short-interest ratio is presently 1.8 days. Approximately 0.7% of the shares of the stock are sold short.

Shares of ARD traded up $0.33 during trading hours on Thursday, reaching $16.83. 261 shares of the company traded hands, compared to its average volume of 61,820. The company’s fifty day moving average price is $14.95. Ardagh Group has a fifty-two week low of $10.09 and a fifty-two week high of $17.38. The company has a market cap of $308.97 million, a PE ratio of 9.94, a PEG ratio of 1.41 and a beta of 0.98.

Ardagh Group (NYSE:ARD) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Ardagh Group had a negative return on equity of 28.61% and a negative net margin of 0.73%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company earned $0.33 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that Ardagh Group will post 1.68 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.14 dividend. The ex-dividend date was Thursday, May 16th.

A number of analysts recently commented on the company. Zacks Investment Research raised Ardagh Group from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, June 18th. ValuEngine raised Ardagh Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.88.

Large investors have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in Ardagh Group by 4,174.0% in the 4th quarter. Legal & General Group Plc now owns 10,856 shares of the company’s stock worth $120,000 after buying an additional 10,602 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Ardagh Group in the 1st quarter worth about $131,000. Two Sigma Investments LP acquired a new stake in Ardagh Group in the 4th quarter worth about $208,000. Barings LLC acquired a new stake in Ardagh Group in the 1st quarter worth about $228,000. Finally, Bank of America Corp DE boosted its stake in Ardagh Group by 369.9% in the 4th quarter. Bank of America Corp DE now owns 24,239 shares of the company’s stock worth $268,000 after buying an additional 19,081 shares during the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.

About Ardagh Group

Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.

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