Amcor (NYSE:AMCR) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a buy rating in a research note published on Monday, MarketBeat.com reports.

AMCR has been the topic of several other reports. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Down 1.8 %

NYSE AMCR opened at $9.55 on Monday. The stock has a market cap of $13.80 billion, a P/E ratio of 18.01, a PEG ratio of 1.86 and a beta of 0.84. The company’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $10.45. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor has a 52 week low of $8.78 and a 52 week high of $11.48.

Institutional Trading of Amcor

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. grew its holdings in Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. Natixis Advisors LLC grew its holdings in Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after acquiring an additional 95,805 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Amcor in the third quarter worth $5,919,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

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.