Amcor plc (NYSE:AMCR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Amcor plc (NYSE:AMCR) have received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. Three equities research 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 price target among analysts that have covered the stock in the last year is $11.46.

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

Amcor Stock Performance

Shares of AMCR opened at $9.70 on Tuesday. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.96 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The business’s 50 day moving average is $9.93 and its two-hundred day moving average is $10.22. Amcor has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period in the prior year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.26%. Amcor’s payout ratio is currently 92.73%.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amcor

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

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.