Amcor (NYSE:AMCR) Hits New 1-Year High at $10.53

Shares of Amcor plc (NYSE:AMCR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.53 and last traded at $10.48, with a volume of 14251589 shares trading hands. The stock had previously closed at $10.42.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMCR shares. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price for the company. Finally, Wells Fargo & Company began coverage on shares of Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 price target for the company. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Hold” and an average target price of $10.15.

Amcor Trading Up 0.6 %

The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The company’s 50 day moving average is $9.96 and its 200 day moving average is $9.59. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 4.58 and a beta of 0.86.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, research analysts forecast that Amcor plc will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Amcor

Several large investors have recently added to or reduced their stakes in AMCR. Riverview Trust Co acquired a new stake in shares of Amcor during the 1st quarter valued at about $28,000. Quent Capital LLC lifted its stake in 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 purchasing an additional 1,241 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after purchasing an additional 2,519 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds 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.