Amcor (NYSE:AMCR) Raised to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a buy rating in a research note published on Monday, MarketBeat.com reports.

Several other research analysts have also recently issued reports on the company. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Up 1.6 %

NYSE:AMCR opened at $10.21 on Monday. The company’s 50 day moving average is $9.77 and its two-hundred day moving average is $10.44. The company has a market cap of $14.76 billion, a PE ratio of 19.27, a P/E/G ratio of 1.86 and a beta of 0.84. Amcor has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Analysts anticipate that Amcor will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 4.99%. Amcor’s payout ratio is 96.23%.

Institutional Trading of Amcor

Several institutional investors have recently bought and sold shares of AMCR. Larson Financial Group LLC lifted its position in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Rise Advisors LLC acquired a new position in Amcor during the third quarter worth $35,000. ORG Wealth Partners LLC purchased a new position in Amcor during the third quarter valued at $35,000. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.