Amcor (NYSE:AMCR) Given New $11.00 Price Target at Truist Financial

Amcor (NYSE:AMCR) had its price objective decreased by Truist Financial from $12.00 to $11.00 in a report issued on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

AMCR has been the topic of several other research reports. Raymond James initiated coverage on shares of Amcor in a research report on Tuesday. They set a “market perform” rating on the stock. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.31.

Amcor Stock Up 2.7 %

AMCR stock opened at $9.56 on Tuesday. The company has a 50 day moving average of $9.70 and a two-hundred day moving average of $10.00. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.33%. Amcor’s dividend payout ratio is 92.73%.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amcor

A number of institutional investors have recently added to or reduced their stakes in AMCR. Vanguard Group Inc. lifted its position in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after acquiring an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC increased its holdings in Amcor by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock valued at $345,952,000 after buying an additional 539,756 shares during the period. Invesco Ltd. raised its stake in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after buying an additional 4,199,209 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

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.