Amcor (NYSE:AMCR) Price Target Raised to $51.00 at Bank of America

Amcor (NYSE:AMCR – Get Free Report) had its target price lifted by equities research analysts at Bank of America from $48.00 to $51.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 20.22% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Citigroup cut their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.33.

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Amcor Trading Down 0.0%

Shares of AMCR stock traded down $0.01 during trading on Tuesday, hitting $42.42. 346,991 shares of the stock traded hands, compared to its average volume of 5,084,142. The firm has a market capitalization of $19.61 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. Amcor has a 52-week low of $36.25 and a 52-week 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. The firm’s fifty day moving average price is $40.30 and its 200-day moving average price is $42.12.

Amcor (NYSE:AMCR – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the firm earned $0.90 EPS. Amcor’s revenue was up 77.4% on a year-over-year basis. As a group, research analysts forecast that Amcor will post 3.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amcor

Hedge funds have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC boosted its stake in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares during the period. CYBER HORNET ETFs LLC increased its holdings in Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Amcor by 16.1% in the 2nd 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 during the last quarter. FineMark National Bank & Trust raised its holdings in Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after purchasing an additional 503 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after acquiring an additional 597 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Company Profile

(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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