Amcor (NYSE:AMCR) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. lowered shares of Amcor (NYSE:AMCRGet Rating) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, The Fly reports. They currently have $11.70 price objective on the stock.

Other research analysts have also recently issued reports about the company. Bank of America upgraded Amcor from an underperform rating to a buy rating in a report on Thursday, October 13th. TheStreet upgraded Amcor from a c+ rating to a b- rating in a report on Thursday, November 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $12.00.

Amcor Trading Down 2.2 %

Shares of Amcor stock opened at $11.74 on Tuesday. The stock has a market cap of $17.48 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.83 and a beta of 0.79. The stock’s 50 day simple moving average is $12.09 and its 200-day simple moving average is $11.95. Amcor has a 1-year low of $10.42 and a 1-year high of $13.60. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.27 and a quick ratio of 0.71.

Amcor (NYSE:AMCRGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Amcor had a net margin of 5.63% and a return on equity of 28.47%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.58 billion. Analysts predict that Amcor will post 0.78 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Shareholders of record on Wednesday, November 23rd were given a $0.1225 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 22nd. This represents a $0.49 dividend on an annualized basis and a yield of 4.17%. Amcor’s payout ratio is presently 87.50%.

Insider Buying and Selling at Amcor

In other Amcor news, insider Louis Fred Stephan sold 497,022 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $11.98, for a total value of $5,954,323.56. Following the sale, the insider now owns 112,464 shares of the company’s stock, valued at $1,347,318.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Louis Fred Stephan sold 497,022 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $11.98, for a total transaction of $5,954,323.56. Following the sale, the insider now owns 112,464 shares of the company’s stock, valued at $1,347,318.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nicholas T. Long sold 5,372 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $12.40, for a total value of $66,612.80. Following the sale, the director now directly owns 29,769 shares in the company, valued at approximately $369,135.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,080,955 shares of company stock valued at $13,145,237 over the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Trading of Amcor

A number of large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in shares of Amcor by 1.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 48,176 shares of the company’s stock worth $517,000 after acquiring an additional 857 shares during the period. Concord Wealth Partners increased its holdings in Amcor by 23.4% in the second quarter. Concord Wealth Partners now owns 4,656 shares of the company’s stock valued at $58,000 after buying an additional 882 shares during the last quarter. Lumature Wealth Partners LLC increased its holdings in Amcor by 4.2% in the third quarter. Lumature Wealth Partners LLC now owns 21,955 shares of the company’s stock valued at $236,000 after buying an additional 892 shares during the last quarter. Apeiron RIA LLC increased its holdings in Amcor by 2.9% in the fourth quarter. Apeiron RIA LLC now owns 32,173 shares of the company’s stock valued at $383,000 after buying an additional 897 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Amcor by 16.0% in the third quarter. IFP Advisors Inc now owns 6,593 shares of the company’s stock valued at $94,000 after buying an additional 908 shares during the last quarter. Hedge funds and other institutional investors own 46.79% of the company’s stock.

About Amcor

(Get Rating)

Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

See Also

The Fly logo

Analyst Recommendations for Amcor (NYSE:AMCR)

Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.