Zacks Investment Research Downgrades Ardagh Group (NYSE:ARD) to Hold

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Zacks Investment Research downgraded shares of Ardagh Group (NYSE:ARD) from a buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

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. “

A number of other brokerages have also issued reports on ARD. Citigroup lifted their price target on Silgan from $34.00 to $36.00 and gave the stock a buy rating in a research note on Thursday, July 11th. ValuEngine lowered Welbilt from a hold rating to a sell rating in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating on shares of SUZUKI MTR CORP/ADR in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $18.76.

Shares of NYSE:ARD opened at $17.36 on Thursday. The stock has a 50 day moving average price of $16.53. The firm has a market capitalization of $323.51 million, a price-to-earnings ratio of 10.15, a PEG ratio of 1.48 and a beta of 1.24. Ardagh Group has a 1 year low of $10.09 and a 1 year high of $20.00.

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 the Zacks’ consensus estimate of $0.31 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $1.92 billion. Ardagh Group had a negative return on equity of 28.61% and a negative net margin of 0.73%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, research analysts forecast that Ardagh Group will post 1.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARD. Machina Capital S.A.S. acquired a new position in Ardagh Group during the second quarter worth $76,000. Legal & General Group Plc boosted its stake in Ardagh Group by 4,174.0% during the fourth 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 position in Ardagh Group during the first quarter worth $131,000. Two Sigma Investments LP acquired a new position in Ardagh Group during the fourth quarter worth $208,000. Finally, Barings LLC acquired a new position in Ardagh Group during the first quarter worth $228,000. 86.41% of the stock is currently owned by 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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