Amcor (NYSE:AMCR) Sets New 1-Year Low - Here's Why

Key Points

• Shares hit a new 52-week low, trading as low as $36.67 (last $36.89) on heavy volume of about 5.8 million shares, with the 50-day and 200-day moving averages near $41–$42 indicating recent downside momentum.
• Analyst sentiment is mixed after recent downgrades and price-target cuts (Wells Fargo, Truist), but the consensus remains a "Moderate Buy" with an average price target of $50.89.
• Operationally Amcor beat EPS expectations ($0.86 vs. $0.83) while reporting $3.24 billion in revenue (below a cited $5.53 billion estimate); the company has a market cap of $17.0B, PE of 24.1, debt/equity of 1.26, and about 45% institutional ownership.

Shares of Amcor PLC (NYSE:AMCR - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $36.67 and last traded at $36.8870, with a volume of 5775354 shares. The stock had previously closed at $37.75.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company lowered Amcor from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Truist Financial dropped their price objective on Amcor from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Citigroup reaffirmed a "buy" rating on shares of Amcor in a report on Thursday, February 12th. Robert W. Baird set a $54.00 price objective on Amcor in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a "buy" rating and a $50.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Amcor currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.89.

Amcor Stock Performance

The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 1.26. The stock has a fifty day moving average of $41.81 and a 200-day moving average of $42.52. The stock has a market cap of $17.04 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.05 and a beta of 0.63.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the company posted $0.80 earnings per share. The business's revenue was up 68.1% on a year-over-year basis. On average, equities analysts forecast that Amcor PLC will post 3.94 EPS for the current year.

Hedge Funds Weigh In On Amcor

A number of hedge funds and other institutional investors have recently made changes to their positions in AMCR. AdvisorNet Financial Inc purchased a new position in shares of Amcor during the first quarter worth about $25,000. Quent Capital LLC purchased a new stake in Amcor in the 3rd quarter valued at approximately $27,000. DV Equities LLC purchased a new stake in Amcor in the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. boosted its holdings in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company's stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. Hedge funds and other 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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