Ardagh Group (NYSE:ARD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $21.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 18.18% from the company’s previous close.
According to Zacks, “Ardagh Group S.A. provides metal and glass packaging solutions, producing packaging for food, beverage and consumer brands. Ardagh Group S.A. is based in Luxembourg. “
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SUZUKI MTR CORP/ADR in a research report on Wednesday. Citigroup upped their price target on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.76.
Ardagh Group stock traded down $0.60 during trading on Wednesday, hitting $17.77. 79,840 shares of the company were exchanged, compared to its average volume of 99,461. The firm has a 50 day simple moving average of $16.34. Ardagh Group has a 52 week low of $10.09 and a 52 week high of $20.00. The company has a market capitalization of $337.86 million, a P/E ratio of 10.51, a P/E/G ratio of 1.55 and a beta of 1.24.
Ardagh Group (NYSE:ARD) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was down .2% on a year-over-year basis. On average, research analysts predict that Ardagh Group will post 1.68 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Ardagh Group by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 37,113 shares of the company’s stock valued at $410,000 after purchasing an additional 3,915 shares in the last quarter. Northern Trust Corp lifted its position in Ardagh Group by 6.3% during the 4th quarter. Northern Trust Corp now owns 233,652 shares of the company’s stock worth $2,589,000 after buying an additional 13,852 shares in the last quarter. Geode Capital Management LLC lifted its position in Ardagh Group by 17.6% during the 4th quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock worth $587,000 after buying an additional 7,935 shares in the last quarter. Two Sigma Investments LP acquired a new position in Ardagh Group during the 4th quarter worth about $208,000. Finally, Two Sigma Advisers LP lifted its position in Ardagh Group by 60.9% during the 4th quarter. Two Sigma Advisers LP now owns 28,000 shares of the company’s stock worth $310,000 after buying an additional 10,600 shares in the last quarter. Institutional investors own 86.41% of the company’s stock.
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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