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

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

AMCR has been the topic of a number of recent research reports. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Amcor

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after buying an additional 1,249,868 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after acquiring an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC grew its position in Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after acquiring an additional 539,756 shares in the last quarter. Invesco Ltd. increased its stake in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after purchasing an additional 4,199,209 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Amcor by 25.1% during the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after purchasing an additional 5,614,233 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE:AMCR opened at $9.70 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average of $9.93 and a 200-day moving average of $10.22. Amcor has a twelve month low of $8.80 and a twelve month high of $11.48. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Analysts forecast that Amcor will post 0.74 earnings per share 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 given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is presently 92.73%.

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.