Amcor (NYSE:AMCR) Stock Rating Upgraded by Jefferies Financial Group

Amcor (NYSE:AMCR - Get Free Report) was upgraded by analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a note issued to investors on Monday, MarketBeat.com reports.

Other analysts have also recently issued reports about the stock. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.46.

Amcor Trading Up 1.7 %

Shares of AMCR traded up $0.18 during midday trading on Monday, hitting $10.23. The stock had a trading volume of 27,003,560 shares, compared to its average volume of 18,789,033. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The business has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $10.44. The firm has a market cap of $14.78 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period last year, the company posted $0.09 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that Amcor will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Amcor

Several large investors have recently made changes to their positions in the stock. Larson Financial Group LLC raised its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC bought a new position in Amcor during the 3rd quarter worth $35,000. ORG Wealth Partners LLC bought a new position in shares of Amcor in the third quarter worth $35,000. True Wealth Design LLC increased its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after purchasing an additional 3,225 shares during the period. Finally, Signaturefd LLC boosted its stake in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company's stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Institutional investors and hedge funds 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.