Amcor (NYSE:AMCR) Coverage Initiated at UBS Group

Key Points

• UBS Group initiated coverage of Amcor with a “buy” rating and a $56 price target, implying approximately 19% upside from the prior close.
• Analyst sentiment is generally positive: Amcor has a consensus “Moderate Buy” rating and an average price target of $48.74, based on one Strong Buy, eight Buys, and six Holds.
• Amcor shares opened at $47.04, near the upper end of their 52-week range of $36.25 to $50.94, while institutional investors own 45.14% of the company.

Research analysts at UBS Group began coverage on shares of Amcor (NYSE:AMCR - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a "buy" rating and a $56.00 price target on the stock. UBS Group's price target would indicate a potential upside of 19.05% from the stock's previous close.

Several other equities analysts have also issued reports on AMCR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amcor in a research report on Friday. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They set a "market perform" rating and a $47.00 price objective for the company. Truist Financial reiterated a "buy" rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a "hold" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Amcor presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.74.

Amcor Stock Performance

Shares of AMCR opened at $47.04 on Tuesday. The business's 50 day moving average price is $42.89 and its 200-day moving average price is $42.52. The stock has a market cap of $21.75 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.50 and a beta of 0.62. Amcor has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Institutional Trading of Amcor

Several large investors have recently modified their holdings of the company. Bangor Savings Bank purchased a new stake in Amcor during the second quarter valued at approximately $26,000. AdvisorNet Financial Inc bought a new position in Amcor in the 1st quarter worth $25,000. Western Wealth Management LLC purchased a new position in Amcor during the first quarter valued at $27,000. Palladiem LLC purchased a new position in Amcor during the first quarter valued at $34,000. Finally, Root Financial Partners LLC bought a new stake in Amcor during the first quarter valued at about $41,000. Institutional investors own 45.14% of the company's stock.

Amcor Company Profile

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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