Robert W. Baird Has Lowered Expectations for Amcor (NYSE:AMCR) Stock Price

Amcor (NYSE:AMCR) had its target price reduced by Robert W. Baird from $11.00 to $10.00 in a research note published on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other research firms have also issued reports on AMCR. Truist Financial set a $11.00 price target on Amcor and gave the stock a “buy” rating in a research report on Friday, July 11th. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Jefferies Financial Group assumed coverage on Amcor in a research report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price for the company. Wells Fargo & Company increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.42.

Amcor Stock Performance

Amcor stock opened at $8.73 on Friday. The company has a market cap of $12.62 billion, a PE ratio of 24.25, a PEG ratio of 1.14 and a beta of 0.74. The company has a current ratio of 0.67, a quick ratio of 0.37 and a debt-to-equity ratio of 1.18. Amcor has a 1 year low of $8.37 and a 1 year high of $11.48. The company’s 50-day moving average is $9.42 and its two-hundred day moving average is $9.51.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 43.8% on a year-over-year basis. Equities analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, September 5th. Amcor’s dividend payout ratio (DPR) is 141.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Amcor during the fourth quarter worth $23,810,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Amcor in the 4th quarter valued at about $4,426,000. Townsquare Capital LLC boosted its position in shares of Amcor by 25.0% during the fourth quarter. Townsquare Capital LLC now owns 61,377 shares of the company’s stock worth $578,000 after buying an additional 12,272 shares during the period. Mariner LLC grew its holdings in shares of Amcor by 11.3% during the fourth quarter. Mariner LLC now owns 443,804 shares of the company’s stock worth $4,176,000 after buying an additional 45,203 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Amcor in the 4th quarter valued at approximately $205,000. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.