Amcor (NYSE:AMCR) Given a $11.00 Price Target by Truist Financial Analysts

Amcor (NYSE:AMCR - Get Free Report) has been assigned a $11.00 price objective by investment analysts at Truist Financial in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 14.25% from the company's previous close.

A number of other brokerages also recently issued reports on AMCR. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Raymond James Financial assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Wells Fargo & Company began coverage on shares of Amcor in a report on Thursday, June 26th. They issued an "overweight" rating and a $10.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Amcor has a consensus rating of "Moderate Buy" and a consensus target price of $11.37.

Amcor Stock Down 0.3%

AMCR stock traded down $0.03 during midday trading on Friday, hitting $9.63. The stock had a trading volume of 15,125,155 shares, compared to its average volume of 21,169,296. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth 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 52-week low of $8.37 and a 52-week high of $11.48. The business has a 50-day moving average of $9.25 and a two-hundred day moving average of $9.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its position in Amcor by 839.8% in the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock valued at $28,000 after buying an additional 2,704 shares during the last quarter. Rakuten Securities Inc. lifted its stake 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 purchasing an additional 2,996 shares during the last quarter. Adirondack Trust Co. purchased a new stake in Amcor in the second quarter valued at $29,000. HM Payson & Co. acquired a new stake in shares of Amcor in the 1st quarter valued at about $30,000. Finally, Brentview Investment Management LLC acquired a new position in Amcor during the first quarter worth approximately $31,000. Hedge funds and other institutional investors 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.