Analysts Set Amcor plc (NYSE:AMCR) Target Price at $11.31

Amcor plc (NYSE:AMCR) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.31.

A number of research firms have recently issued reports on AMCR. Truist Financial dropped their price target on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Raymond James initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating for the company. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd.

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amcor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. raised its position in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after purchasing an additional 2,996 shares during the period. HM Payson & Co. bought a new stake in shares of Amcor during the 1st quarter worth approximately $30,000. CVA Family Office LLC boosted its holdings in Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Quarry LP grew its position in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock valued at $35,000 after acquiring an additional 3,551 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of AMCR opened at $9.20 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm’s 50-day simple moving average is $9.61 and its two-hundred day simple moving average is $9.94. Amcor has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The stock has a market cap of $13.30 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.54%. Amcor’s payout ratio is currently 92.73%.

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.