Analysts Set Amcor PLC (NYSE:AMCR) Target Price at $49.33

Amcor PLC (NYSE:AMCRGet Free Report) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $48.00.

A number of equities research analysts have recently commented on AMCR shares. JPMorgan Chase & Co. cut their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial restated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company.

View Our Latest Analysis on Amcor

Institutional Trading of Amcor

Institutional investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc purchased a new position in Amcor in the first quarter worth about $25,000. Western Wealth Management LLC purchased a new stake in shares of Amcor during the 1st quarter valued at about $27,000. DV Equities LLC purchased a new stake in shares of Amcor during the 4th quarter valued at about $27,000. Brown Lisle Cummings Inc. lifted its stake in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. Finally, Larson Financial Group LLC raised its position in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after acquiring an additional 1,257 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.7%

NYSE:AMCR opened at $43.64 on Thursday. The firm has a market capitalization of $20.18 billion, a P/E ratio of 30.52, a PEG ratio of 1.31 and a beta of 0.62. 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 has a one year low of $36.25 and a one year high of $50.94. The company’s 50-day simple moving average is $39.57 and its 200 day simple moving average is $42.00.

Amcor (NYSE:AMCRGet Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm 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 forecast that Amcor will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s payout ratio is 181.82%.

About Amcor

(Get Free Report)

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.

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