Amcor PLC (NYSE:AMCR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Amcor has an average analyst rating of "Moderate Buy" from 13 firms (7 buy, 5 hold, 1 strong buy) with a 1‑year average target of about $50.89.
• Recent analyst moves include Truist cutting its target from $60 to $50 and Wells Fargo downgrading to equal weight (target $43), while Deutsche Bank initiated coverage with a buy rating and a $50 target.
• Shares trade around $37.67, below analyst targets and both the 50‑day ($41.55) and 200‑day ($42.51) moving averages; Amcor beat Q4 EPS estimates ($0.86 vs. $0.83) but missed revenue expectations, and analysts expect ~$3.94 EPS for the year.

Shares of Amcor PLC (NYSE:AMCR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $50.8889.

Several equities research analysts recently commented on the stock. Citigroup restated a "buy" rating on shares of Amcor in a research report on Thursday, February 12th. Truist Financial cut their target price on shares of Amcor from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They issued a "buy" rating and a $50.00 target price for the company. Finally, Wells Fargo & Company lowered Amcor from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $48.00 to $43.00 in a research report on Friday, March 20th.

Hedge Funds Weigh In On Amcor

A number of large investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC boosted its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock worth $34,000 after purchasing an additional 373 shares during the period. CYBER HORNET ETFs LLC increased its stake in Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock valued at $37,000 after buying an additional 447 shares during the period. FineMark National Bank & Trust lifted its position in Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company's stock worth $671,000 after buying an additional 503 shares in the last quarter. United Asset Strategies Inc. lifted its position in Amcor by 1.6% in the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock worth $321,000 after buying an additional 597 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Trading Up 2.1%

Shares of AMCR opened at $37.67 on Wednesday. The business's 50-day moving average price is $41.55 and its 200 day moving average price is $42.51. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $17.41 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.03 and a beta of 0.63. Amcor has a 1-year low of $36.67 and a 1-year high of $50.94.

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

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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