Amcor (NYSE:AMCR) Raised to “Buy” at Jefferies Financial Group

Amcor (NYSE:AMCR) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

A number of other research firms have also recently weighed in on AMCR. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. 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 report on Tuesday, October 15th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Price Performance

Amcor stock opened at $10.05 on Monday. The business has a 50 day simple moving average of $9.78 and a 200 day simple moving average of $10.44. Amcor has a one year low of $8.78 and a one year high of $11.48. The company has a market capitalization of $14.52 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Institutional Trading of Amcor

Hedge funds have recently bought and sold shares of the stock. FourThought Financial Partners LLC bought a new stake in Amcor in the 4th quarter valued at $121,000. Blackhawk Capital Partners LLC. raised its stake in shares of Amcor by 20.2% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 228,998 shares of the company’s stock valued at $2,155,000 after purchasing an additional 38,538 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of Amcor in the fourth quarter valued at about $4,465,000. Howard Capital Management Inc. acquired a new position in shares of Amcor during the fourth quarter worth about $238,000. Finally, Nan Fung Trinity HK Ltd. grew its holdings in shares of Amcor by 61.2% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 2,719,680 shares of the company’s stock worth $25,592,000 after buying an additional 1,032,400 shares in the last quarter. 45.14% of the stock is currently 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.