Amcor plc (NYSE:AMCR) Given Average Rating of “Moderate Buy” by Analysts

Amcor plc (NYSE:AMCR) has received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.46.

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

Insider Activity

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

Hedge Funds Weigh In On Amcor

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares during the period. Quarry LP grew its holdings in Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares during the period. True Wealth Design LLC increased its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the 4th quarter worth approximately $44,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 3.7 %

Shares of AMCR stock opened at $9.22 on Tuesday. The business has a 50-day moving average price of $9.91 and a two-hundred day moving average price of $10.19. Amcor has a 12-month low of $8.80 and a 12-month high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $13.32 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released 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. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $0.09 EPS. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.53%. Amcor’s dividend payout ratio is 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.