Ardagh Group (ARD) Rating Increased to Hold at Zacks Investment Research
Ardagh Group (NYSE:ARD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other research firms also recently commented on ARD. Royal Bank of Canada began coverage on Ardagh Group in a report on Monday, October 9th. They set an “outperform” rating and a $26.00 price objective for the company. BMO Capital Markets restated a “hold” rating and set a $26.00 price objective on shares of Ardagh Group in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $24.35.
Ardagh Group (NYSE:ARD) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. sell-side analysts expect that Ardagh Group will post 0.95 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in ARD. Rhumbline Advisers bought a new stake in Ardagh Group during the second quarter worth $324,000. Bank of New York Mellon Corp bought a new stake in Ardagh Group during the second quarter worth $664,000. Marshall Wace North America L.P. purchased a new position in Ardagh Group in the second quarter worth $1,778,000. Federated Investors Inc. PA boosted its position in Ardagh Group by 18.6% in the second quarter. Federated Investors Inc. PA now owns 94,180 shares of the company’s stock worth $2,130,000 after purchasing an additional 14,770 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Ardagh Group in the second quarter worth $766,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
About Ardagh Group
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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