Amcor PLC (NYSE:AMCR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.7857.

Several analysts recently issued reports on the stock. Robert W. Baird raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Truist Financial upped their target price on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wells Fargo & Company increased their price target on shares of Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a report on Wednesday. Finally, Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Friday, October 10th.

Hedge Funds Weigh In On Amcor

A number of hedge funds have recently added to or reduced their stakes in AMCR. Stratos Wealth Partners LTD. increased its stake in shares of Amcor by 3.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company’s stock valued at $224,000 after buying an additional 832 shares in the last quarter. Brookstone Capital Management grew its holdings in Amcor by 3.1% during the 4th quarter. Brookstone Capital Management now owns 31,231 shares of the company’s stock worth $260,000 after acquiring an additional 938 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Amcor by 5.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock worth $190,000 after acquiring an additional 1,035 shares during the last quarter. Rothschild Investment LLC increased its position in Amcor by 4.2% in the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock valued at $241,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Patton Fund Management Inc. raised its stake in shares of Amcor by 4.3% in the fourth quarter. Patton Fund Management Inc. now owns 26,109 shares of the company’s stock worth $218,000 after acquiring an additional 1,080 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 3.6%

NYSE:AMCR opened at $44.29 on Monday. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Amcor has a one year low of $38.33 and a one year high of $52.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04. The business’s 50-day simple moving average is $42.14 and its 200 day simple moving average is $42.77.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.Amcor’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Friday, November 28th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 152.94%.

Amcor Company Profile

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.