Analysts Set Amcor PLC (NYSE:AMCR) Target Price at $48.40

Amcor PLC (NYSE:AMCR) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $48.0836.

AMCR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. BMO Capital Markets began coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Company set a $43.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMCR. N.E.W. Advisory Services LLC lifted its holdings in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in Amcor by 11.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after acquiring an additional 447 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Amcor by 16.1% in the second quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the last quarter. FineMark National Bank & Trust lifted its position in shares of Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after purchasing an additional 503 shares in the last quarter. Finally, United Asset Strategies Inc. increased its holdings in shares of Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock valued at $321,000 after purchasing an additional 597 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Stock Performance

NYSE:AMCR opened at $44.60 on Monday. Amcor has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average of $41.11 and a 200-day moving average of $42.23. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue was up 77.4% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. Analysts forecast that Amcor will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. Amcor’s dividend payout ratio is 181.82%.

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.