Amcor plc (NYSE:AMCR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Amcor plc (NYSE:AMCR) have been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.46.

AMCR has been the topic of several analyst reports. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Activity

In related news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Amcor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC boosted its position in shares of Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the period. CWA Asset Management Group LLC lifted its stake in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after buying an additional 1,213 shares in the last quarter. Virtue Capital Management LLC boosted its holdings in Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock worth $432,000 after buying an additional 1,259 shares during the period. Utah Retirement Systems increased its stake in Amcor by 1.1% in the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock worth $1,130,000 after buying an additional 1,300 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after acquiring an additional 1,409 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

AMCR opened at $10.10 on Friday. Amcor has a 1 year low of $8.80 and a 1 year high of $11.48. The stock has a 50-day moving average price of $9.83 and a 200-day moving average price of $10.39. The firm has a market cap of $14.59 billion, a PE ratio of 18.35, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

About Amcor

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.