Ardagh Group SA (NYSE:ARD) Receives $17.66 Average Target Price from Analysts
Shares of Ardagh Group SA (NYSE:ARD) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.66.
ARD has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Ardagh Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut shares of Ardagh Group from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $15.00 to $17.00 in a research note on Wednesday, July 17th. ValuEngine downgraded shares of Ardagh Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, Citigroup raised their target price on shares of Ardagh Group from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th.
Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Ardagh Group by 17.6% in the 4th quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock valued at $587,000 after buying an additional 7,935 shares during the period. Calamos Advisors LLC purchased a new stake in Ardagh Group during the second quarter worth about $201,000. Clearbridge Investments LLC lifted its holdings in shares of Ardagh Group by 0.5% in the first quarter. Clearbridge Investments LLC now owns 1,379,538 shares of the company’s stock valued at $17,934,000 after purchasing an additional 6,820 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Ardagh Group in the second quarter valued at approximately $76,000. Finally, Gabelli Funds LLC grew its position in shares of Ardagh Group by 54.5% in the second quarter. Gabelli Funds LLC now owns 15,586 shares of the company’s stock valued at $273,000 after purchasing an additional 5,500 shares during the last quarter. 85.26% of the stock is owned by institutional investors and hedge funds.
Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (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 company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts forecast that Ardagh Group will post 1.66 EPS for the current fiscal year.
The firm also recently announced a dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 15th.
About Ardagh Group
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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