Amcor (NYSE:AMCR) Price Target Raised to $10.80

Amcor (NYSE:AMCR - Free Report) had its price target boosted by Wells Fargo & Company from $10.50 to $10.80 in a research report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts have also issued reports on the company. Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a neutral rating in a report on Friday, August 16th. Citigroup lifted their target price on Amcor from $10.00 to $11.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. Stifel Nicolaus initiated coverage on Amcor in a report on Tuesday, July 9th. They set a hold rating and a $10.80 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an overweight rating in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $10.78.

Amcor Price Performance

AMCR stock traded up $0.03 during midday trading on Tuesday, hitting $11.37. 7,131,508 shares of the stock were exchanged, compared to its average volume of 8,936,232. The stock's 50-day moving average price is $11.05 and its 200-day moving average price is $10.25. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.72 and a beta of 0.85. Amcor has a fifty-two week low of $8.45 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. Research analysts predict that Amcor will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Friday, September 6th. Amcor's dividend payout ratio is currently 111.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCR. Wellington Management Group LLP bought a new stake in Amcor during the 4th quarter worth approximately $155,438,000. PNC Financial Services Group Inc. grew its holdings in shares of Amcor by 16.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 323,914 shares of the company's stock valued at $3,123,000 after purchasing an additional 46,385 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Amcor during the 4th quarter valued at $185,000. Nomura Holdings Inc. grew its holdings in shares of Amcor by 57.4% during the 4th quarter. Nomura Holdings Inc. now owns 139,398 shares of the company's stock valued at $1,344,000 after purchasing an additional 50,860 shares during the last quarter. Finally, Symmetry Partners LLC bought a new position in shares of Amcor during the 1st quarter valued at $253,000. 45.14% of the stock is currently owned by hedge funds and other 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.