Amcor plc (NYSE:AMCR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Amcor plc (NYSE:AMCR) have received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.46.

A number of research firms have commented on AMCR. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th.

Amcor Stock Performance

Shares of AMCR stock opened at $9.22 on Tuesday. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor has a one year low of $8.80 and a one year high of $11.48. The company’s 50-day moving average is $9.91 and its 200 day moving average is $10.19.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.53%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amcor

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Quarry LP lifted its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor in the 4th quarter worth approximately $44,000. Finally, Huntington National Bank grew its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after buying an additional 1,522 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

About Amcor

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.