Zacks Investment Research Lowers Ardagh Group (NYSE:ARD) to Sell

Zacks Investment Research downgraded shares of Ardagh Group (NYSE:ARD) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, 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. “

ARD has been the subject of a number of other reports. Citigroup upped their price target on Ardagh Group from $16.00 to $22.00 and gave the company a buy rating in a research note on Thursday, July 11th. ValuEngine raised Ardagh Group from a strong sell rating to a sell rating in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut Ardagh Group from a neutral rating to an underweight rating and upped their price target for the company from $15.00 to $17.00 in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Ardagh Group has a consensus rating of Hold and a consensus target price of $18.22.

Ardagh Group stock opened at $16.88 on Tuesday. Ardagh Group has a 1 year low of $10.09 and a 1 year high of $20.00. The firm has a market cap of $308.04 million, a P/E ratio of 9.99, a PEG ratio of 1.42 and a beta of 1.24. The company’s 50-day simple moving average is $17.13.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. Ardagh Group had a negative net margin of 0.61% and a negative return on equity of 26.87%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, analysts forecast that Ardagh Group will post 1.66 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in ARD. Bank of New York Mellon Corp increased its stake in shares of Ardagh Group by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 37,113 shares of the company’s stock valued at $410,000 after acquiring an additional 3,915 shares during the last quarter. Northern Trust Corp increased its stake in Ardagh Group by 6.3% during the 4th quarter. Northern Trust Corp now owns 233,652 shares of the company’s stock worth $2,589,000 after purchasing an additional 13,852 shares in the last quarter. Geode Capital Management LLC increased its stake in Ardagh Group by 17.6% during the 4th quarter. Geode Capital Management LLC now owns 53,028 shares of the company’s stock worth $587,000 after purchasing an additional 7,935 shares in the last quarter. Two Sigma Investments LP bought a new stake in Ardagh Group during the 4th quarter worth approximately $208,000. Finally, Two Sigma Advisers LP increased its stake in Ardagh Group by 60.9% during the 4th quarter. Two Sigma Advisers LP now owns 28,000 shares of the company’s stock worth $310,000 after purchasing an additional 10,600 shares in the last quarter. 86.31% 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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