JPMorgan Chase & Co. Downgrades Ardagh Group (NYSE:ARD) to Underweight

Ardagh Group (NYSE:ARD) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $17.00 target price on the stock, up from their previous target price of $15.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 2.86% from the company’s previous close.

A number of other analysts also recently commented on the company. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Finally, Citigroup upped their target price on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.76.

Shares of ARD opened at $17.50 on Wednesday. Ardagh Group has a 52 week low of $10.09 and a 52 week high of $20.00. The stock has a market capitalization of $331.15 million, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The business has a 50-day moving average of $16.47.

Ardagh Group (NYSE:ARD) last issued its earnings results on Friday, April 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Ardagh Group had a negative return on equity of 28.61% and a negative net margin of 0.73%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. On average, research analysts predict that Ardagh Group will post 1.68 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. raised its holdings in shares of Ardagh Group by 15.8% during the first quarter. Private Management Group Inc. now owns 1,554,714 shares of the company’s stock valued at $20,211,000 after acquiring an additional 212,111 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Ardagh Group by 32,799.2% during the fourth quarter. Deutsche Bank AG now owns 202,001 shares of the company’s stock valued at $2,237,000 after acquiring an additional 201,387 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ardagh Group by 64.0% during the fourth quarter. Millennium Management LLC now owns 246,902 shares of the company’s stock valued at $2,736,000 after acquiring an additional 96,314 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Ardagh Group during the fourth quarter valued at approximately $433,000. Finally, Bank of America Corp DE raised its holdings in shares of Ardagh Group by 369.9% during the fourth quarter. Bank of America Corp DE now owns 24,239 shares of the company’s stock valued at $268,000 after acquiring an additional 19,081 shares during the last quarter. 86.41% of the stock is owned by institutional investors.

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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Analyst Recommendations for Ardagh Group (NYSE:ARD)

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