Ardagh Group S.A.’s Lock-Up Period To End Tomorrow (NYSE:ARD)
Ardagh Group’s (NYSE:ARD) lock-up period is set to end on Monday, September 11th. Ardagh Group had issued 16,200,000 shares in its IPO on March 15th. The total size of the offering was $307,800,000 based on an initial share price of $19.00. After the end of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
ARD has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Ardagh Group in a research note on Monday, June 19th. They set a “market perform” rating and a $26.00 price objective for the company. Zacks Investment Research upgraded shares of Ardagh Group from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Thursday, August 3rd. Finally, Barclays PLC reiterated a “hold” rating and set a $23.00 price objective on shares of Ardagh Group in a research note on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Ardagh Group presently has a consensus rating of “Buy” and an average price target of $24.50.
Shares of Ardagh Group (NYSE:ARD) opened at 20.53 on Friday. Ardagh Group has a 52-week low of $0.09 and a 52-week high of $24.54. The stock’s market cap is $4.85 billion. The firm’s 50-day moving average is $21.46 and its 200 day moving average is $21.58.
Ardagh Group (NYSE:ARD) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.24. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.01 billion. Ardagh Group’s quarterly revenue was up 57.8% compared to the same quarter last year. Analysts forecast that Ardagh Group will post $1.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 2.73%.
A number of hedge funds have recently added to or reduced their stakes in ARD. Canyon Capital Advisors LLC acquired a new stake in Ardagh Group during the first quarter worth approximately $42,793,000. Clearbridge Investments LLC acquired a new stake in Ardagh Group during the first quarter worth approximately $40,593,000. Brahman Capital Corp. acquired a new stake in Ardagh Group during the first quarter worth approximately $29,409,000. Citadel Advisors LLC acquired a new stake in Ardagh Group during the first quarter worth approximately $24,515,000. Finally, Wellington Management Group LLP acquired a new stake in Ardagh Group during the first quarter worth approximately $21,002,000. 99.93% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Ardagh Group S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardagh Group S.A. and related stocks with our FREE daily email newsletter.