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

Shares of Amcor plc (NYSE:AMCR - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.46.

A number of research firms have recently commented on AMCR. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and upped their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd.

Amcor Trading Down 0.3 %

Amcor stock traded down $0.04 during midday trading on Friday, reaching $10.26. The stock had a trading volume of 30,664,485 shares, compared to its average volume of 21,242,797. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a fifty day moving average of $9.85 and a 200 day moving average of $10.38.

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Amcor (NYSE:AMCR - Get Free Report) last released its earnings results 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 firm had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 4.97%. Amcor's dividend payout ratio is currently 92.73%.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Amcor

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Amcor by 303.9% in the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock valued at $81,863,000 after buying an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP grew its holdings in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock worth $74,931,000 after purchasing an additional 4,851,222 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Amcor by 474.7% during the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after purchasing an additional 4,462,367 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after purchasing an additional 4,199,209 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

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.