Analysts Set Amcor plc (NYSE:AMCR) Target Price at $11.20

Shares of Amcor plc (NYSE:AMCR) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.20.

Several brokerages recently issued reports on AMCR. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th.

Institutional Investors Weigh In On Amcor

A number of large investors have recently bought and sold shares of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after buying an additional 2,804,484 shares during the last quarter. M&G PLC increased its position in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after acquiring an additional 2,287,826 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

AMCR opened at $9.49 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.80 and a beta of 0.82. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48. The business has a 50 day moving average of $10.40 and a 200-day moving average of $10.50.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. Amcor’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 5.37%. Amcor’s payout ratio is 96.23%.

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.