Ardagh Group S.A. (ARD) Lifted to Outperform at BMO Capital Markets

Ardagh Group S.A. (NYSE:ARD) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday, The Fly reports. The analysts noted that the move was a valuation call.

Several other brokerages have also weighed in on ARD. Zacks Investment Research raised Ardagh Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Barclays PLC reissued a “hold” rating and set a $23.00 price objective on shares of Ardagh Group in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada started coverage on Ardagh Group in a report on Monday, October 9th. They set an “outperform” rating and a $26.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $24.35.

Shares of Ardagh Group (NYSE:ARD) opened at 20.37 on Monday. Ardagh Group has a 52-week low of $19.88 and a 52-week high of $24.54. The company’s 50 day moving average price is $21.00 and its 200 day moving average price is $21.72. The firm’s market capitalization is $4.81 billion.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business posted $0.52 EPS. Ardagh Group’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts forecast that Ardagh Group will post $1.69 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in ARD. SG Americas Securities LLC acquired a new stake in Ardagh Group in the 1st quarter valued at $239,000. FMR LLC acquired a new stake in Ardagh Group in the 1st quarter valued at $6,452,000. UBS Group AG acquired a new stake in Ardagh Group in the 1st quarter valued at $2,913,000. Bank of America Corp DE acquired a new stake in Ardagh Group in the 1st quarter valued at $1,090,000. Finally, Janus Capital Management LLC acquired a new stake in Ardagh Group in the 1st quarter valued at $3,653,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Group Company Profile

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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