Analysts Set Amcor plc (NYSE:AMCR) Price Target at $10.73

Amcor plc (NYSE:AMCR) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.73.

Several equities analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Wells Fargo & Company boosted their price target on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. Finally, Citigroup raised their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th.

Institutional Trading of Amcor

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in shares of Amcor in the first quarter worth approximately $28,000. Quent Capital LLC raised its stake in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the last quarter. UMB Bank n.a. increased its holdings in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Amcor in the 2nd quarter worth approximately $47,000. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 0.1 %

Shares of AMCR opened at $10.89 on Tuesday. Amcor has a fifty-two week low of $8.45 and a fifty-two week high of $11.45. The business has a 50-day moving average of $10.57 and a 200 day moving average of $9.93. The firm has a market cap of $15.73 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, research analysts forecast that Amcor will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is currently 111.11%.

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.