Shares of Ardagh Group SA (NYSE:ARD) have received an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.66.
ARD has been the subject of a number of recent analyst reports. ValuEngine cut shares of Ardagh Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of Ardagh Group from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Zacks Investment Research cut shares of Ardagh Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. cut shares of Ardagh Group from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $15.00 to $17.00 in a research report on Wednesday, July 17th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Ardagh Group by 17.6% during the fourth quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock worth $587,000 after purchasing an additional 7,935 shares during the period. Bank of America Corp DE boosted its position 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 valued at $268,000 after buying an additional 19,081 shares during the period. Gabelli Funds LLC acquired a new position in shares of Ardagh Group in the first quarter worth $131,000. Barings LLC acquired a new position in shares of Ardagh Group in the first quarter worth $228,000. Finally, Private Management Group Inc. grew its stake in shares of Ardagh Group by 15.8% in the first quarter. Private Management Group Inc. now owns 1,554,714 shares of the company’s stock worth $20,211,000 after acquiring an additional 212,111 shares in the last quarter. 85.26% of the stock is owned by institutional investors.
Ardagh Group (NYSE:ARD) last posted its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). Ardagh Group had a negative net margin of 0.61% and a negative return on equity of 26.87%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. Ardagh Group’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts predict that Ardagh Group will post 1.66 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 15th.
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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