Amcor (NYSE:AMCR) Given New $10.00 Price Target at Robert W. Baird

Key Points

• Amcor has had its price target lowered from $11.00 to $10.00 by Robert W. Baird, although the firm maintains a "neutral" rating on the stock.
• The stock is currently trading at $8.66, down 1.2%, with an average target price of $11.42 and a consensus rating of "Moderate Buy."
• Amcor's recent earnings report showed a miss on EPS estimates, reporting $0.20 compared to the expected $0.21, while revenue was $5.08 billion versus an expected $5.18 billion.

Amcor (NYSE:AMCR - Get Free Report) had its target price decreased by stock analysts at Robert W. Baird from $11.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 15.54% from the company's previous close.

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

Amcor Stock Down 1.2%

Amcor stock traded down $0.11 during mid-day trading on Friday, hitting $8.66. The company had a trading volume of 10,009,570 shares, compared to its average volume of 28,927,330. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.27 and a beta of 0.74. The business has a fifty day moving average of $9.43 and a 200 day moving average of $9.52. Amcor has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. Amcor's revenue was up 43.8% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. On average, sell-side analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Amcor

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

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