Amcor (NYSE:AMCR) Upgraded at Baird R W

Baird R W upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on AMCR. Wells Fargo & Company decreased their price objective on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Royal Bank Of Canada began coverage on shares of Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating for the company. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research note on Friday, October 10th. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price objective on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $11.50 target price on shares of Amcor in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Amcor Trading Down 0.4%

Shares of Amcor stock opened at $8.64 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $8.37 and a 200-day simple moving average of $8.63. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.01 and a beta of 0.68. Amcor has a 12-month low of $7.66 and a 12-month high of $10.45.

Shares of Amcor are set to reverse split on the morning of Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, January 14th.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The business’s quarterly revenue was up 71.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. On average, equities analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th were paid a dividend of $0.13 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.0%. Amcor’s dividend payout ratio (DPR) is currently 152.94%.

Institutional Trading of Amcor

Institutional investors have recently modified their holdings of the business. NewSquare Capital LLC raised its position in Amcor by 377.9% in the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after acquiring an additional 2,222 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Amcor during the 3rd quarter worth $27,000. AdvisorNet Financial Inc increased its holdings in shares of Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares in the last quarter. Adirondack Trust Co. acquired a new stake in shares of Amcor in the second quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Amcor in the second quarter valued at about $33,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.