Ardagh Group (ARD) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ardagh Group (NYSE:ARD) from a hold rating to a sell rating in a research report released on Thursday.

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. “

Several other equities analysts also recently weighed in on ARD. Barclays reduced their target price on shares of Ardagh Group from $20.00 to $18.00 and set an equal weight rating for the company in a research note on Monday, July 30th. Royal Bank of Canada set a $22.00 target price on shares of Ardagh Group and gave the stock a buy rating in a research note on Friday, July 27th. Finally, Citigroup reduced their target price on shares of Ardagh Group from $25.00 to $22.00 and set a buy rating for the company in a research note on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $22.00.

NYSE ARD traded down $0.32 during trading hours on Thursday, reaching $15.43. 2,805 shares of the company were exchanged, compared to its average volume of 83,178. Ardagh Group has a 1 year low of $14.77 and a 1 year high of $22.33. The company has a debt-to-equity ratio of -6.41, a quick ratio of 0.91 and a current ratio of 1.45. The company has a market capitalization of $298.16 million, a PE ratio of 8.53 and a beta of -0.30.

Ardagh Group (NYSE:ARD) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Ardagh Group had a negative return on equity of 31.32% and a net margin of 1.56%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted $0.54 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Ardagh Group will post 1.72 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Ardagh Group by 99.3% in the first quarter. Sei Investments Co. now owns 7,759 shares of the company’s stock worth $145,000 after purchasing an additional 3,866 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Ardagh Group by 163,571.4% in the first quarter. PNC Financial Services Group Inc. now owns 11,457 shares of the company’s stock valued at $214,000 after acquiring an additional 11,450 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Ardagh Group in the second quarter valued at approximately $198,000. Barclays PLC boosted its position in shares of Ardagh Group by 90.7% in the first quarter. Barclays PLC now owns 21,949 shares of the company’s stock valued at $409,000 after acquiring an additional 10,438 shares during the period. Finally, Martingale Asset Management L P bought a new position in shares of Ardagh Group in the second quarter valued at approximately $369,000. Hedge funds and other institutional investors own 88.60% of the company’s stock.

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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