Ardagh Group (NYSE:ARD) Shares Up 15%

Ardagh Group SA (NYSE:ARD)’s stock price shot up 15% during trading on Monday . The stock traded as high as $12.56 and last traded at $12.39, 106,214 shares changed hands during trading. An increase of 3% from the average session volume of 103,620 shares. The stock had previously closed at $10.77.

Several research firms have recently commented on ARD. Barclays started coverage on Ardagh Group in a report on Thursday, January 16th. They set an “equal weight” rating and a $22.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Ardagh Group from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their price objective on Ardagh Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, Zacks Investment Research lowered Ardagh Group from a “buy” rating to a “hold” rating in a report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.80.

The business has a 50-day moving average price of $15.41 and a 200 day moving average price of $17.84. The company has a market cap of $212.72 million, a price-to-earnings ratio of 2.01 and a beta of 1.49.

Ardagh Group (NYSE:ARD) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Ardagh Group had a negative return on equity of 34.53% and a net margin of 17.26%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts forecast that Ardagh Group SA will post 1.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 17th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stephenson National Bank & Trust acquired a new position in Ardagh Group during the fourth quarter worth $74,000. Citigroup Inc. lifted its stake in shares of Ardagh Group by 52.2% in the fourth quarter. Citigroup Inc. now owns 4,692 shares of the company’s stock valued at $92,000 after buying an additional 1,610 shares during the period. Jefferies Group LLC lifted its stake in shares of Ardagh Group by 44.8% in the fourth quarter. Jefferies Group LLC now owns 18,162 shares of the company’s stock valued at $356,000 after buying an additional 5,620 shares during the period. California Public Employees Retirement System bought a new stake in shares of Ardagh Group in the fourth quarter valued at about $435,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of Ardagh Group in the fourth quarter valued at about $509,000. 87.00% of the stock is currently owned by institutional investors and hedge funds.

About Ardagh Group (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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