Analysts Set Amcor plc (NYSE:AMCR) Target Price at $11.20

Amcor plc (NYSE:AMCR) has earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $11.20.

Several analysts have commented on AMCR shares. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th.

Institutional Investors Weigh In On Amcor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its position in Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after purchasing an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after acquiring an additional 1,023 shares during the last quarter. Forum Financial Management LP grew its position in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after acquiring an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after acquiring an additional 1,085 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Amcor by 5.3% in the second quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after acquiring an additional 1,298 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.6 %

NYSE:AMCR opened at $9.49 on Friday. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48. The firm has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The firm has a market cap of $13.72 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $0.16 earnings per share. Amcor’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.