Amcor (NYSE:AMCR) Receives Neutral Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed a “neutral” rating on Amcor and raised its price target from $44 to $47, implying approximately 2.09% upside from the prior close.
• Analyst sentiment is generally positive, with Amcor receiving a consensus “Moderate Buy” rating and an average price target of $49.49; seven analysts rate it Buy and seven rate it Hold.
• Amcor’s latest quarterly results exceeded expectations, with EPS of $1.23 versus the $1.19 consensus and revenue of $6.40 billion versus $6.05 billion estimates. Revenue increased 25.9% year over year.

Amcor (NYSE:AMCR - Get Free Report)'s stock had its "neutral" rating reaffirmed by JPMorgan Chase & Co. in a note issued to investors on Monday,Benzinga reports. They presently have a $47.00 price target on the stock, up from their previous price target of $44.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 2.09% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group began coverage on shares of Amcor in a research report on Tuesday, August 11th. They issued a "buy" rating and a $56.00 price objective on the stock. Citigroup restated a "buy" rating and set a $52.00 price target (up from $47.00) on shares of Amcor in a report on Friday. Truist Financial reaffirmed a "buy" rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Bank of America increased their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of "Moderate Buy" and a consensus price target of $49.49.

Amcor Price Performance

Shares of NYSE:AMCR opened at $46.04 on Monday. The stock has a market cap of $21.29 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.09 and a beta of 0.62. The business's fifty day moving average price is $43.57 and its two-hundred day moving average price is $42.61. Amcor has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.42 and a current ratio of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business's revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. On average, analysts forecast that Amcor will post 4.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc acquired a new stake in Amcor during the 1st quarter worth $25,000. Bangor Savings Bank bought a new stake in Amcor in the second quarter valued at $26,000. Western Wealth Management LLC bought a new position in Amcor during the first quarter valued at $27,000. DV Equities LLC purchased a new position in shares of Amcor during the 4th quarter valued at $27,000. Finally, Larson Financial Group LLC lifted its stake in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock worth $33,000 after purchasing an additional 1,257 shares during the last quarter. 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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