Amcor (NYSE:AMCR) Upgraded at Citigroup

Amcor (NYSE:AMCR - Get Free Report) was upgraded by investment analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $12.00 price objective on the stock, up from their previous price objective of $11.00. Citigroup's price objective suggests a potential upside of 27.25% from the company's current price.

AMCR has been the topic of a number of other reports. Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $12.00 in a research note on Monday. 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. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. 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 note on Wednesday, December 11th. Finally, UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Price Performance

AMCR traded up $0.10 on Monday, reaching $9.43. The company had a trading volume of 20,666,741 shares, compared to its average volume of 14,783,412. The business has a 50 day simple moving average of $10.06 and a 200 day simple moving average of $10.46. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.80 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor's quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Amcor will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC bought a new stake in Amcor in the third quarter valued at $35,000. ORG Wealth Partners LLC bought a new stake in Amcor in the third quarter valued at $35,000. True Wealth Design LLC boosted its holdings in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings 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 acquiring an additional 3,242 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

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.