Ardagh Group S.A. (ARD) Upgraded by BMO Capital Markets to Outperform

Ardagh Group S.A. (NYSE:ARD) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday, October 30th. The firm currently has a $26.00 target price on the stock. BMO Capital Markets’ price target would suggest a potential upside of 31.58% from the stock’s current price. The analysts noted that the move was a valuation call.

Several other analysts have also recently weighed in on ARD. Zacks Investment Research raised shares of Ardagh Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 19th. Barclays PLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of Ardagh Group in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada began coverage on shares of Ardagh Group in a research note on Monday, October 9th. They set an “outperform” rating and a $26.00 price target on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.35.

Shares of Ardagh Group (NYSE ARD) traded down $0.17 on Monday, hitting $19.76. 74,400 shares of the stock were exchanged, compared to its average volume of 107,509. Ardagh Group has a 1-year low of $19.62 and a 1-year high of $24.54.

Ardagh Group (NYSE:ARD) last posted its earnings results on Thursday, October 26th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2 billion. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. sell-side analysts forecast that Ardagh Group will post 0.95 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC grew its position in shares of Ardagh Group by 29.1% in the 2nd quarter. Canyon Capital Advisors LLC now owns 2,515,101 shares of the company’s stock valued at $56,866,000 after acquiring an additional 566,401 shares during the period. Schroder Investment Management Group lifted its stake in shares of Ardagh Group by 74.7% during the 2nd quarter. Schroder Investment Management Group now owns 698,724 shares of the company’s stock worth $15,819,000 after buying an additional 298,724 shares during the last quarter. FMR LLC acquired a new stake in shares of Ardagh Group during the 1st quarter worth about $6,452,000. Janus Capital Management LLC acquired a new stake in shares of Ardagh Group during the 1st quarter worth about $3,653,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Ardagh Group during the 2nd quarter worth about $3,761,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Ardagh Group Company Profile

Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.

Analyst Recommendations for Ardagh Group (NYSE:ARD)

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