Ardagh Group SA (NYSE:ARD)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $12.90 and last traded at $13.10, with a volume of 2042 shares traded. The stock had previously closed at $13.69.
ARD has been the topic of a number of research reports. Zacks Investment Research cut Ardagh Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Royal Bank of Canada set a $22.00 price target on Ardagh Group and gave the stock a “buy” rating in a report on Friday, July 27th. Barclays lowered their price target on Ardagh Group from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, July 30th. Deutsche Bank set a $18.00 price target on Ardagh Group and gave the stock a “buy” rating in a report on Monday, October 29th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $15.30 price target (down previously from $21.00) on shares of Ardagh Group in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Ardagh Group presently has an average rating of “Hold” and an average price target of $19.22.
The firm has a market capitalization of $238.35 million, a price-to-earnings ratio of 7.08 and a beta of 0.92.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, November 15th. Ardagh Group’s dividend payout ratio is currently 15.22%.
A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Ardagh Group during the 3rd quarter valued at $1,525,000. Credit Suisse AG acquired a new stake in shares of Ardagh Group during the third quarter worth $2,572,000. Northern Trust Corp boosted its holdings in shares of Ardagh Group by 20.9% during the second quarter. Northern Trust Corp now owns 44,311 shares of the company’s stock worth $737,000 after purchasing an additional 7,675 shares during the last quarter. Canyon Capital Advisors LLC boosted its holdings in shares of Ardagh Group by 0.4% during the second quarter. Canyon Capital Advisors LLC now owns 2,658,756 shares of the company’s stock worth $44,189,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in shares of Ardagh Group during the second quarter worth $2,118,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.
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Ardagh Group Company Profile (NYSE:ARD)
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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