Amcor plc (NYSE:AMCR) Given Average Recommendation of “Moderate Buy” by Analysts

Amcor plc (NYSE:AMCR) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $11.46.

A number of equities analysts recently commented on the stock. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th.

Institutional Trading of Amcor

Institutional investors have recently modified their holdings of the company. HB Wealth Management LLC raised its position in shares of Amcor by 41.0% in the 4th quarter. HB Wealth Management LLC now owns 68,466 shares of the company’s stock valued at $644,000 after purchasing an additional 19,915 shares during the last quarter. Financial & Tax Architects LLC raised its position in shares of Amcor by 12.8% in the 4th quarter. Financial & Tax Architects LLC now owns 56,579 shares of the company’s stock valued at $532,000 after purchasing an additional 6,434 shares during the last quarter. Merit Financial Group LLC purchased a new position in Amcor during the 4th quarter worth approximately $127,000. Hennion & Walsh Asset Management Inc. raised its position in Amcor by 5.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 156,111 shares of the company’s stock worth $1,469,000 after buying an additional 8,078 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its position in Amcor by 3.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 633,584 shares of the company’s stock worth $5,962,000 after buying an additional 22,983 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 0.9 %

Amcor stock opened at $9.61 on Thursday. Amcor has a twelve month low of $8.78 and a twelve month high of $11.48. The firm has a 50 day moving average price of $9.92 and a 200-day moving average price of $10.45. The company has a market capitalization of $13.89 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.80 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.31%. The ex-dividend date was Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

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.