ValuEngine Lowers Ardagh Group (NYSE:ARD) to Strong Sell

ValuEngine downgraded shares of Ardagh Group (NYSE:ARD) from a sell rating to a strong sell rating in a research report released on Thursday, ValuEngine reports.

Several other research firms have also recently issued reports on ARD. JPMorgan Chase & Co. cut Ardagh Group from a neutral rating to an underweight rating and lifted their price objective for the stock from $15.00 to $17.00 in a report on Wednesday, July 17th. Zacks Investment Research cut Ardagh Group from a hold rating to a sell rating in a report on Tuesday, July 30th. Finally, Citigroup lifted their price objective on Ardagh Group from $16.00 to $22.00 and gave the stock a buy rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $18.22.

ARD stock traded down $0.01 during trading on Thursday, hitting $16.87. The stock had a trading volume of 104,836 shares, compared to its average volume of 123,794. Ardagh Group has a twelve month low of $10.09 and a twelve month high of $20.00. The stock has a market cap of $314.56 million, a PE ratio of 10.05, a P/E/G ratio of 1.45 and a beta of 1.24. The business’s 50-day moving average price is $17.16.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Machina Capital S.A.S. purchased a new position in Ardagh Group in the 2nd quarter worth approximately $76,000. Gabelli Funds LLC purchased a new stake in shares of Ardagh Group during the 1st quarter valued at approximately $131,000. Legal & General Group Plc raised its position in shares of Ardagh Group by 4,174.0% during the 4th quarter. Legal & General Group Plc now owns 10,856 shares of the company’s stock valued at $120,000 after buying an additional 10,602 shares during the period. Barings LLC purchased a new stake in shares of Ardagh Group during the 1st quarter valued at approximately $228,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Ardagh Group during the 4th quarter valued at approximately $208,000. 86.31% 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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Analyst Recommendations for Ardagh Group (NYSE:ARD)

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