UBS Group Upgrades Amcor (NYSE:AMCR) to "Strong-Buy"

Amcor (NYSE:AMCR - Get Free Report) was upgraded by investment analysts at UBS Group from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective for the company in a research report on Wednesday. Citigroup upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.20.

Amcor Stock Down 1.0 %

Shares of Amcor stock traded down $0.10 during trading on Wednesday, hitting $9.90. 10,312,736 shares of the stock were exchanged, compared to its average volume of 9,630,000. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The firm's 50-day moving average price is $10.62 and its 200 day moving average price is $10.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48.

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

Institutional Investors Weigh In On Amcor

Several large investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its position in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after purchasing an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in shares of Amcor in the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor in the third quarter valued at approximately $35,000. True Wealth Design LLC grew its holdings in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after acquiring an additional 3,225 shares during the period. Finally, UMB Bank n.a. raised its position in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company's stock worth $46,000 after acquiring an additional 1,299 shares in the last quarter. Hedge funds and other 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.