Amcor (NYSE:AMCR) Upgraded at UBS Group

UBS Group upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Citigroup raised their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. 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 report on Tuesday, October 15th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

Amcor Stock Performance

Shares of AMCR stock opened at $9.90 on Wednesday. Amcor has a 52-week low of $8.78 and a 52-week high of $11.48. The stock’s 50-day moving average price is $10.62 and its 200 day moving average price is $10.52. 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 capitalization of $14.30 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. As a group, equities research analysts forecast that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Institutional Trading of Amcor

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Amcor by 3.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 414,564 shares of the company’s stock worth $4,054,000 after acquiring an additional 15,416 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Amcor during the 2nd quarter valued at approximately $47,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Amcor by 2.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 142,553 shares of the company’s stock worth $1,394,000 after buying an additional 2,897 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Amcor by 3.0% in the second quarter. First Citizens Bank & Trust Co. now owns 641,608 shares of the company’s stock worth $6,275,000 after buying an additional 18,433 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Amcor in the second quarter valued at $263,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

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.