Citigroup Issues Positive Forecast for Amcor (NYSE:AMCR) Stock Price

Amcor (NYSE:AMCR) had its price target hoisted by equities researchers at Citigroup from $50.00 to $54.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 8.90% from the company’s current price.

AMCR has been the subject of several other research reports. Robert W. Baird set a $54.00 price objective on shares of Amcor in a research note on Wednesday, February 4th. Truist Financial upped their price target on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $52.88.

Amcor Stock Down 1.0%

Shares of NYSE:AMCR traded down $0.50 on Thursday, reaching $49.59. The company had a trading volume of 3,071,279 shares, compared to its average volume of 6,370,284. The firm has a market capitalization of $22.91 billion, a PE ratio of 32.37, a PEG ratio of 1.13 and a beta of 0.67. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. Amcor has a 52-week low of $38.33 and a 52-week high of $52.25. The firm’s 50 day simple moving average is $43.13 and its 200-day simple moving average is $42.63.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm’s quarterly revenue was up 68.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amcor

A number of institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after acquiring an additional 20,757 shares during the period. Focus Partners Wealth boosted its holdings in Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Amcor during the 2nd quarter worth about $138,000. IFP Advisors Inc raised its stake in shares of Amcor by 171.9% during the 2nd quarter. IFP Advisors Inc now owns 6,786 shares of the company’s stock valued at $62,000 after buying an additional 4,290 shares during the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of Amcor by 59.5% in the 2nd quarter. Aberdeen Group plc now owns 329,689 shares of the company’s stock valued at $3,041,000 after buying an additional 123,007 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

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.