Amcor (NYSE:AMCR) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Amcor (NYSE:AMCR) to a hold rating in a research note published on Thursday,Zacks.com reports.

Several other research analysts also recently commented on the company. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Bank of America increased their price target on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $48.40.

Amcor Trading Down 2.0%

NYSE:AMCR opened at $43.96 on Thursday. The company has a market cap of $20.32 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.38 and a beta of 0.62. The stock’s fifty day moving average price is $40.65 and its two-hundred day moving average price is $42.18. Amcor has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, analysts expect that Amcor will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Investors Research Corp increased its holdings in shares of Amcor by 32,298.9% in the 2nd quarter. Investors Research Corp now owns 28,187 shares of the company’s stock worth $1,222,000 after buying an additional 28,100 shares during the last quarter. Fiduciary Financial Group LLC lifted its holdings in shares of Amcor by 8.4% during the 2nd quarter. Fiduciary Financial Group LLC now owns 7,863 shares of the company’s stock worth $341,000 after acquiring an additional 612 shares during the last quarter. First Bank & Trust lifted its holdings in shares of Amcor by 10.7% during the 2nd quarter. First Bank & Trust now owns 36,514 shares of the company’s stock worth $1,583,000 after acquiring an additional 3,541 shares during the last quarter. Gradient Investments LLC lifted its stake in Amcor by 14.4% in the second quarter. Gradient Investments LLC now owns 130,897 shares of the company’s stock worth $5,674,000 after acquiring an additional 16,497 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Amcor by 16.1% in the second quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock valued at $156,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.