Amcor plc (NYSE:AMCR) Given Average Rating of "Moderate Buy" by Brokerages

Amcor plc (NYSE:AMCR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.31.

Several research firms have recently weighed in on AMCR. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Truist Financial dropped their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd.

Amcor Price Performance

NYSE:AMCR traded down $0.08 during mid-day trading on Wednesday, hitting $8.96. The company's stock had a trading volume of 24,950,157 shares, compared to its average volume of 18,824,028. Amcor has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.96 and a beta of 0.78. The stock has a fifty day moving average of $9.32 and a 200-day moving average of $9.72.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. As a group, equities analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.70%. Amcor's payout ratio is presently 91.07%.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Amcor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth raised its holdings in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company's stock worth $418,000 after purchasing an additional 4,396 shares during the period. Bayforest Capital Ltd acquired a new stake in Amcor in the first quarter worth $355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Amcor by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,746,344 shares of the company's stock worth $84,840,000 after purchasing an additional 1,239,433 shares during the period. McIlrath & Eck LLC raised its holdings in Amcor by 119,244.6% in the first quarter. McIlrath & Eck LLC now owns 66,833 shares of the company's stock worth $648,000 after purchasing an additional 66,777 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in Amcor in the first quarter worth $322,000. 45.14% of the stock is owned by institutional investors.

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.