JPMorgan Chase & Co. downgraded shares of Ardagh Group (NYSE:ARD) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has $17.00 target price on the stock, up from their prior target price of $15.00.
Several other analysts have also recently issued reports on the stock. ValuEngine cut shares of Welbilt from a hold rating to a sell rating in a research report on Wednesday, June 12th. Citigroup upped their target price on shares of Silgan from $34.00 to $36.00 and gave the company a buy rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research cut shares of First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.76.
Shares of NYSE ARD opened at $17.36 on Wednesday. The firm’s 50-day simple moving average is $16.53. The stock has a market cap of $323.50 million, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. Ardagh Group has a 12-month low of $10.09 and a 12-month high of $20.00.
Ardagh Group (NYSE:ARD) last announced its earnings results on Friday, April 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Ardagh Group had a negative net margin of 0.73% and a negative return on equity of 28.61%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, equities research analysts predict that Ardagh Group will post 1.68 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. Machina Capital S.A.S. purchased a new stake in Ardagh Group in the 2nd quarter worth about $76,000. Clearbridge Investments LLC raised its position in Ardagh Group by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,379,538 shares of the company’s stock worth $17,934,000 after purchasing an additional 6,820 shares during the period. Private Management Group Inc. raised its position in Ardagh Group by 15.8% in the 1st quarter. Private Management Group Inc. now owns 1,554,714 shares of the company’s stock worth $20,211,000 after purchasing an additional 212,111 shares during the period. Barings LLC purchased a new stake in Ardagh Group in the 1st quarter worth about $228,000. Finally, Gabelli Funds LLC purchased a new stake in Ardagh Group in the 1st quarter worth about $131,000. 86.41% of the stock is currently owned by institutional investors.
Ardagh Group Company Profile
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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