Entropy Technologies LP Makes New Investment in Amcor PLC (NYSE:AMCR)

Key Points

• Entropy Technologies LP has entered a new position by acquiring 174,217 shares of Amcor PLC valued at approximately $1.69 million in Q1.
• Institutional investors currently own 45.14% of Amcor's stock, with major players like Vanguard and Charles Schwab increasing their stakes significantly in the first quarter.
• Research analysts have a consensus rating of "Moderate Buy" for Amcor, with an average target price of $11.51, indicating positive expectations for the stock's performance.

Entropy Technologies LP purchased a new stake in Amcor PLC (NYSE:AMCR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 174,217 shares of the company's stock, valued at approximately $1,690,000.

A number of other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. increased its position 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. acquired a new stake in Amcor in the 1st quarter worth $30,000. Brentview Investment Management LLC bought a new position in shares of Amcor during the 1st quarter worth about $31,000. CVA Family Office LLC lifted 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. Finally, N.E.W. Advisory Services LLC acquired a new position in Amcor in the 1st quarter valued at approximately $36,000. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

AMCR traded down $0.02 during trading on Friday, hitting $8.75. The company's stock had a trading volume of 32,618,449 shares, compared to its average volume of 29,082,432. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The firm's 50 day moving average price is $9.43 and its two-hundred day moving average price is $9.52. Amcor PLC has a 12 month low of $8.37 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The business's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. Sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial set a $11.00 price target on Amcor and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Raymond James Financial assumed coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target for the company. Finally, Wells Fargo & Company increased their target price on Amcor from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.42.

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.