JPMorgan Chase & Co. Initiates Coverage on Amcor (NYSE:AMCR)

Key Points

• JPMorgan Chase & Co. has reinstated an "overweight" rating for Amcor (NYSE:AMCR), while lowering its target price from $11.10 to $10.00, indicating a potential upside of 20.34% from the current stock price.
• Amcor's stock performance includes a notable quarterly earnings miss, reporting $0.20 EPS against an expected $0.21, despite revenues increasing by 43.8% year-over-year.
• Institutional investors now hold approximately 45.14% of Amcor's shares, with significant recent purchases indicating renewed interest in the company's stock.

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of Amcor (NYSE:AMCR - Get Free Report) in a research note issued on Friday, MarketBeat reports. The brokerage set an "overweight" rating and a $10.00 price target on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 20.34% from the stock's current price.

Several other research firms have also weighed in on AMCR. The Goldman Sachs Group initiated coverage on Amcor in a research report on Wednesday, September 10th. They set a "buy" rating on the stock. Wells Fargo & Company upped 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. Truist Financial set a $11.00 target price on Amcor and gave the stock 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. Finally, Jefferies Financial Group assumed coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.21.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $8.31 on Friday. The business has a fifty day moving average of $8.99 and a 200-day moving average of $9.25. The firm has a market cap of $12.01 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. Amcor has a twelve month low of $8.16 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Amcor's revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, equities research analysts predict that Amcor will post 0.74 EPS for the current fiscal year.

Insider Activity at Amcor

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the transaction, the director owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company's stock.

Institutional Trading of Amcor

A number of institutional investors and hedge funds have recently modified their holdings of the business. CX Institutional purchased a new stake in Amcor in the first quarter worth $111,000. SG Americas Securities LLC increased its position in Amcor by 174.3% in the first quarter. SG Americas Securities LLC now owns 149,983 shares of the company's stock worth $1,455,000 after buying an additional 95,314 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Amcor in the first quarter worth $121,000. Wealth Enhancement Advisory Services LLC increased its position in Amcor by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,256,497 shares of the company's stock worth $12,188,000 after buying an additional 175,731 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Amcor by 5.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock worth $796,000 after buying an additional 4,591 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other 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.