Amcor (NYSE:AMCR) Stock Rating Upgraded by Macquarie

Macquarie upgraded shares of Amcor (NYSE:AMCR) from a neutral rating to an outperform rating in a research note released on Wednesday, MarketBeat.com reports.

A number of other equities analysts also recently issued reports on the stock. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amcor has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Price Performance

Shares of AMCR stock opened at $10.63 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The firm has a market cap of $15.36 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.89 and a beta of 0.85. The business’s 50 day moving average price is $10.80 and its 200-day moving average price is $10.51.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.80%. Amcor’s payout ratio is presently 96.23%.

Institutional Investors Weigh In On Amcor

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC bought a new position in shares of Amcor during the third quarter valued at $35,000. True Wealth Design LLC boosted its position in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other 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.