Ardagh Group (NYSE:ARD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Ardagh Group S.A. provides metal and glass packaging solutions, producing packaging for food, beverage and consumer brands. Ardagh Group S.A. is based in Luxembourg. “

A number of other brokerages have also recently weighed in on ARD. JPMorgan Chase & Co. cut shares of Ardagh Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $15.00 to $17.00 in a report on Wednesday, July 17th. ValuEngine cut shares of Ardagh Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Citigroup increased 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.22.

Shares of NYSE:ARD traded up $0.15 on Friday, reaching $17.92. 6,675 shares of the company’s stock were exchanged, compared to its average volume of 82,963. The firm has a market capitalization of $335.29 million, a price-to-earnings ratio of 10.60, a PEG ratio of 1.50 and a beta of 1.21. Ardagh Group has a fifty-two week low of $10.09 and a fifty-two week high of $20.00. The business’s 50-day moving average is $17.08 and its two-hundred day moving average is $15.33.

Ardagh Group (NYSE:ARD) last issued its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.32 billion. Ardagh Group had a negative return on equity of 26.87% and a negative net margin of 0.61%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. Sell-side analysts anticipate that Ardagh Group will post 1.66 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC grew its position in Ardagh Group by 9.6% in the 2nd quarter. Canyon Capital Advisors LLC now owns 2,907,518 shares of the company’s stock valued at $50,882,000 after buying an additional 254,462 shares in the last quarter. Morgan Stanley grew its position in Ardagh Group by 265.0% in the 2nd quarter. Morgan Stanley now owns 175,233 shares of the company’s stock valued at $3,067,000 after buying an additional 127,223 shares in the last quarter. Sterling Capital Management LLC bought a new position in Ardagh Group in the 2nd quarter valued at about $2,451,000. HighTower Advisors LLC bought a new position in Ardagh Group in the 2nd quarter valued at about $260,000. Finally, Parametric Portfolio Associates LLC grew its position in Ardagh Group by 16.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 240,573 shares of the company’s stock valued at $4,210,000 after buying an additional 33,441 shares in the last quarter. 85.26% of the stock is currently owned by institutional investors and hedge funds.

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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