Ardagh Group S.A. (ARD) Receives Average Recommendation of “Buy” from Brokerages
Shares of Ardagh Group S.A. (NYSE:ARD) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.17.
A number of equities research analysts have issued reports on ARD shares. BMO Capital Markets started coverage on shares of Ardagh Group in a report on Monday, June 19th. They set a “market perform” rating and a $26.00 target price on the stock. Zacks Investment Research raised shares of Ardagh Group from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Thursday, August 3rd. Finally, Barclays PLC reissued a “hold” rating and set a $23.00 target price on shares of Ardagh Group in a report on Wednesday, August 2nd.
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Shares of Ardagh Group (NYSE ARD) opened at 21.19 on Friday. The company’s 50-day moving average price is $20.83 and its 200-day moving average price is $21.48. Ardagh Group has a 12 month low of $0.09 and a 12 month high of $24.54. The firm’s market cap is $5.01 billion.
Ardagh Group (NYSE:ARD) last issued its earnings results on Thursday, July 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.24. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. Ardagh Group’s revenue for the quarter was up 57.8% on a year-over-year basis. On average, analysts predict that Ardagh Group will post $1.74 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its holdings in shares of Ardagh Group by 3,749.0% in the second quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock worth $217,000 after purchasing an additional 9,335 shares during the period. SG Americas Securities LLC bought a new position in shares of Ardagh Group in the first quarter worth $239,000. Wells Fargo & Company MN increased its holdings in shares of Ardagh Group by 1.1% in the second quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock worth $265,000 after purchasing an additional 126 shares during the period. Vanguard Group Inc. bought a new position in shares of Ardagh Group in the second quarter worth $289,000. Finally, Rhumbline Advisers bought a new position in shares of Ardagh Group in the second quarter worth $324,000. 99.93% of the stock is currently owned by hedge funds and other 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.
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