Brokerages Set Amcor plc (NYSE:AMCR) Target Price at $10.78

Shares of Amcor plc (NYSE:AMCR) have earned an average recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.78.

AMCR has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock.

Hedge Funds Weigh In On Amcor

Several institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in shares of Amcor during the third quarter worth about $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor during the third quarter valued at approximately $35,000. Quent Capital LLC boosted its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the period. Signaturefd LLC grew its holdings in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Down 7.8 %

Shares of AMCR stock opened at $10.26 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor has a fifty-two week low of $8.71 and a fifty-two week high of $11.48. The firm’s 50 day moving average price is $11.13 and its two-hundred day moving average price is $10.40. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. On average, analysts anticipate that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date is 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 dividend yield of 4.97%. Amcor’s payout ratio is 98.04%.

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.