Amcor plc (NYSE:AMCR) Receives $11.46 Average Price Target from Analysts

Shares of Amcor plc (NYSE:AMCR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.46.

A number of equities analysts have recently commented on AMCR shares. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Finally, Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and increased their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th.

Amcor Stock Down 3.7 %

Amcor stock traded down $0.36 during mid-day trading on Tuesday, hitting $9.22. 48,492,246 shares of the company's stock were exchanged, compared to its average volume of 13,630,714. Amcor has a 1-year low of $8.80 and a 1-year high of $11.48. The stock has a 50 day moving average of $9.91 and a two-hundred day moving average of $10.19. The stock has a market cap of $13.32 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Insider Activity at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Amcor

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after buying an additional 1,249,868 shares in the last quarter. Barclays PLC increased its stake in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. raised its position in Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock worth $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Cerity Partners LLC lifted its stake in Amcor by 78.7% during the third quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock worth $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Amcor during the third quarter valued at approximately $5,919,000. 45.14% of the stock is currently owned by institutional investors.

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.