Brokerages Set Amcor PLC (NYSE:AMCR) Price Target at $11.51

Amcor PLC (NYSE:AMCR) has earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.5143.

A number of equities research analysts have issued reports on AMCR shares. UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a research report on Thursday, June 26th. Jefferies Financial Group started coverage on Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price objective for the company. Truist Financial set a $11.00 target price on Amcor and gave the company a “buy” rating in a research note on Friday, July 11th. Wells Fargo & Company raised their price target on Amcor from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Raymond James Financial initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a “market perform” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMCR. NewSquare Capital LLC increased its stake in shares of Amcor by 377.9% in the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after purchasing an additional 2,222 shares during the period. Rakuten Securities Inc. grew its holdings in Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock valued at $29,000 after buying an additional 2,996 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after buying an additional 2,704 shares during the last quarter. HM Payson & Co. bought a new position in Amcor in the 1st quarter worth approximately $30,000. Finally, Brentview Investment Management LLC acquired a new position in shares of Amcor during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR stock opened at $9.42 on Monday. The firm has a 50 day simple moving average of $9.37 and a 200 day simple moving average of $9.53. Amcor has a 52 week low of $8.37 and a 52 week high of $11.48. The stock has a market cap of $13.61 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.20 and a beta of 0.74. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70.

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.