Jefferies Financial Group Initiates Coverage on Amcor (NYSE:AMCR)

Equities researchers at Jefferies Financial Group started coverage on shares of Amcor (NYSE:AMCR - Get Free Report) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. Jefferies Financial Group's target price would suggest a potential upside of 25.46% from the stock's current price.

AMCR has been the topic of a number of other research reports. Truist Financial cut their price target on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. UBS Group upgraded shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Wells Fargo & Company started coverage on Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target on the stock. Finally, Raymond James Financial started coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.30.

Amcor Trading Down 1.3%

Shares of Amcor stock traded down $0.13 during trading on Wednesday, reaching $9.57. The company's stock had a trading volume of 20,324,793 shares, compared to its average volume of 20,886,255. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. Amcor has a 52-week low of $8.37 and a 52-week high of $11.48. The firm's 50-day moving average is $9.20 and its two-hundred day moving average is $9.51. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.34 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The company's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. On average, sell-side analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

Institutional Trading of Amcor

Several large investors have recently bought and sold shares of the company. Fiduciary Financial Group LLC raised its holdings in Amcor by 33.1% in the second quarter. Fiduciary Financial Group LLC now owns 32,368 shares of the company's stock worth $307,000 after purchasing an additional 8,045 shares in the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of Amcor in the 2nd quarter worth about $171,000. Strs Ohio bought a new position in shares of Amcor in the 1st quarter worth about $1,697,000. Ellsworth Advisors LLC purchased a new position in Amcor during the 1st quarter valued at about $779,000. Finally, Focus Partners Wealth lifted its position in Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company's stock valued at $418,000 after acquiring an additional 4,396 shares during the period. 45.14% of the stock is owned by institutional investors.

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.