Analysts Set Amcor PLC (NYSE:AMCR) PT at $11.51

Key Points

• Amcor PLC has received a consensus rating of "Moderate Buy" from ten analysts, with two recommending a hold and eight advising a buy.
• The average 12-month price target for Amcor among brokerages is $11.51, with recent ratings suggesting a positive outlook for the stock.
• Institutional investors own 45.14% of Amcor's shares, indicating strong interest from hedge funds and significant investment growth in recent quarters.

Amcor PLC (NYSE:AMCR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.5143.

A number of equities research analysts have issued reports on AMCR shares. Truist Financial set a $11.00 price objective on Amcor and gave the company a "buy" rating in a research report on Friday, July 11th. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their price target on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Raymond James Financial started coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target on the stock.

Amcor Price Performance

Shares of AMCR traded down $0.03 during mid-day trading on Monday, hitting $9.37. 17,043,311 shares of the stock were exchanged, compared to its average volume of 19,920,328. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The company has a market cap of $13.54 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.74. Amcor has a 52-week low of $8.37 and a 52-week high of $11.48. The firm has a 50-day moving average of $9.36 and a two-hundred day moving average of $9.53.

Hedge Funds Weigh In On Amcor

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Amcor by 5.3% during the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company's stock worth $190,000 after purchasing an additional 1,035 shares during the last quarter. UMB Bank n.a. grew its stake in Amcor by 20.0% in the 1st quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after acquiring an additional 1,066 shares during the last quarter. AlphaStar Capital Management LLC lifted its stake in Amcor by 2.4% in the 1st quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company's stock valued at $490,000 after buying an additional 1,185 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of Amcor by 6.6% during the second quarter. South Dakota Investment Council now owns 19,302 shares of the company's stock valued at $177,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock worth $132,000 after acquiring an additional 1,252 shares during the last quarter. 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.