Amcor (NYSE:AMCR) Price Target Cut to $50.00 by Analysts at Truist Financial

Amcor (NYSE:AMCR) had its target price trimmed by Truist Financial from $60.00 to $50.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on AMCR. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Citigroup reiterated a “buy” rating on shares of Amcor in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Robert W. Baird set a $54.00 target price on shares of Amcor in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company lowered Amcor from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $48.00 to $43.00 in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average target price of $50.89.

Amcor Stock Down 0.9%

NYSE AMCR opened at $40.63 on Wednesday. Amcor has a 52 week low of $37.94 and a 52 week high of $50.94. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 1.26. The company has a fifty day moving average of $43.89 and a two-hundred day moving average of $42.56. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 0.96 and a beta of 0.71.

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

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Wednesday, February 25th. Amcor’s dividend payout ratio is presently 169.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $2,596,000 after acquiring an additional 20,757 shares in the last quarter. Focus Partners Wealth increased its position in shares of Amcor by 11.3% during the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Amcor in the 2nd quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership acquired a new position in Amcor during the second quarter worth $6,426,000. Finally, CW Advisors LLC acquired a new position in Amcor during the 2nd quarter worth about $228,000. 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.