Amcor plc (NYSE:AMCR) Receives $11.46 Consensus PT from Brokerages

Shares of Amcor plc (NYSE:AMCR) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.46.

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their target price 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 stock from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th.

Amcor Trading Up 0.1 %

NYSE AMCR opened at $9.71 on Thursday. 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 capitalization of $14.03 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.69 and a beta of 0.84. The company’s 50 day moving average price is $9.89 and its 200 day moving average price is $10.44. Amcor has a one year low of $8.78 and a one year high of $11.48.

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

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.26%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Amcor in the 2nd quarter worth approximately $75,000. Choreo LLC acquired a new stake in Amcor in the second quarter worth $103,000. Thoroughbred Financial Services LLC bought a new stake in Amcor in the second quarter valued at $183,000. WINTON GROUP Ltd bought a new position in shares of Amcor during the second quarter worth about $392,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after acquiring an additional 1,527,492 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

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.