Analysts Set Amcor plc (NYSE:AMCR) Target Price at $11.46

Amcor plc (NYSE:AMCR) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.46.

Several analysts have issued reports on AMCR shares. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th.

Amcor Stock Performance

AMCR opened at $10.29 on Friday. The business’s 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.38. Amcor has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Amcor

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. M&G PLC grew its stake in shares of Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC boosted its position in Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock valued at $345,952,000 after acquiring an additional 539,756 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after acquiring an additional 4,199,209 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.