Amcor PLC (NYSE:AMCR) Receives $11.37 Average Target Price from Analysts

Amcor PLC (NYSE:AMCR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.37.

AMCR has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on Amcor in a research report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price objective for the company. Truist Financial lowered their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Jefferies Financial Group assumed coverage on Amcor in a research note on Wednesday, July 2nd. They set a "buy" rating and a $12.00 target price for the company. Finally, Raymond James Financial assumed coverage on Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating for the company.

Amcor Price Performance

NYSE:AMCR traded down $0.18 during trading hours on Thursday, hitting $9.65. The company's stock had a trading volume of 14,423,568 shares, compared to its average volume of 21,193,558. The stock has a fifty day simple moving average of $9.25 and a 200-day simple moving average of $9.52. The company has a market capitalization of $13.95 billion, a P/E ratio of 17.23, a PEG ratio of 1.22 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.70 and a quick ratio of 1.16. Amcor has a twelve month low of $8.37 and a twelve month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. On average, analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.28%. Amcor's payout ratio is 91.07%.

Institutional Trading of Amcor

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. lifted its holdings in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. bought a new stake in Amcor during the first quarter worth $30,000. Brentview Investment Management LLC bought a new stake in Amcor during the first quarter worth $31,000. Adirondack Trust Co. bought a new stake in shares of Amcor in the second quarter valued at $29,000. Finally, CVA Family Office LLC raised its stake in shares of Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after buying an additional 2,280 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Amcor Company Profile

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.