Amcor (NYSE:AMCR) Stock Price Expected to Rise, Citigroup Analyst Says

Amcor (NYSE:AMCR) had its target price hoisted by Citigroup from $50.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 7.72% from the company’s current price.

A number of other research firms have also recently commented on AMCR. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Truist Financial upped their price objective on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. Robert W. Baird set a $54.00 target price on shares of Amcor in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company upped their price target on shares of Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and an average price target of $52.88.

Amcor Trading Up 0.8%

NYSE:AMCR opened at $50.13 on Thursday. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 1.16 and a beta of 0.67. Amcor has a 52 week low of $38.33 and a 52 week high of $52.25. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $43.46 and a 200 day moving average of $42.69.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, sell-side analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Amcor

Several hedge funds and other institutional investors have recently bought and sold shares of AMCR. Kestra Advisory Services LLC raised its position in Amcor by 42.2% during the fourth quarter. Kestra Advisory Services LLC now owns 81,301 shares of the company’s stock valued at $678,000 after acquiring an additional 24,135 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Amcor by 4.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,346,203 shares of the company’s stock worth $11,227,000 after purchasing an additional 57,416 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Amcor by 100.2% during the 4th quarter. Bridgewater Associates LP now owns 661,573 shares of the company’s stock worth $5,518,000 after purchasing an additional 331,188 shares during the period. UMB Bank n.a. increased its holdings in shares of Amcor by 98.2% during the 4th quarter. UMB Bank n.a. now owns 12,544 shares of the company’s stock valued at $105,000 after purchasing an additional 6,214 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Amcor by 42.1% during the 4th quarter. Neuberger Berman Group LLC now owns 209,823 shares of the company’s stock valued at $1,750,000 after purchasing an additional 62,145 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

About Amcor

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.