Brokerages Set Amcor plc (NYSE:AMCR) Price Target at $11.31

Amcor plc (NYSE:AMCR) has received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $11.31.

A number of equities research analysts have issued reports on the company. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Raymond James initiated coverage on Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating on the stock. Finally, Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd.

Amcor Trading Up 0.7 %

Shares of AMCR opened at $9.61 on Friday. 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 firm’s 50-day moving average is $9.66 and its two-hundred day moving average is $9.95. Amcor has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a market capitalization of $13.89 billion, a P/E ratio of 17.47, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released its quarterly 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 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 last year, the business posted $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Insider Activity at Amcor

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

Hedge Funds Weigh In On Amcor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after buying an additional 1,096,664 shares during the period. Virtu Financial LLC bought a new stake in shares of Amcor in the third quarter valued at about $372,000. Tidal Investments LLC lifted its holdings in shares of Amcor by 292.5% in the third quarter. Tidal Investments LLC now owns 81,439 shares of the company’s stock valued at $923,000 after purchasing an additional 60,691 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Amcor by 5.7% in the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock valued at $22,316,000 after purchasing an additional 105,457 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.