Amcor plc (NYSE:AMCR) Given Consensus Rating of "Moderate Buy" by Brokerages

Amcor plc (NYSE:AMCR - Get Free Report) has been given an average rating of "Moderate Buy" by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $11.46.

Several brokerages recently weighed in on AMCR. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lake Street Advisors Group LLC grew its position in Amcor by 8.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock worth $138,000 after purchasing an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Amcor by 9.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock worth $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP grew its holdings in Amcor by 7.7% during the third quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock worth $167,000 after acquiring an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC raised its position in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock valued at $215,000 after acquiring an additional 1,085 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after acquiring an additional 1,213 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Up 0.9 %

Shares of AMCR stock traded up $0.09 during mid-day trading on Thursday, hitting $9.70. 19,267,901 shares of the stock traded hands, compared to its average volume of 16,805,350. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48. The stock has a market cap of $14.02 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.69 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock's fifty day moving average is $9.91 and its two-hundred day moving average is $10.44.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. Amcor's revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.26%. This is a positive change from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio is currently 96.23%.

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.