Analysts Set Amcor PLC (NYSE:AMCR) Price Target at $10.71

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.5286.

Several equities analysts have issued reports on the company. Royal Bank Of Canada assumed coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research note on Friday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.50 price target on shares of Amcor in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company cut their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th.

Institutional Investors Weigh In On Amcor

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Amcor by 5.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock worth $190,000 after purchasing an additional 1,035 shares in the last quarter. Rothschild Investment LLC raised its holdings in Amcor by 4.2% during the second quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock worth $241,000 after buying an additional 1,049 shares during the last quarter. South Dakota Investment Council lifted its stake in shares of Amcor by 6.6% in the second quarter. South Dakota Investment Council now owns 19,302 shares of the company’s stock valued at $177,000 after buying an additional 1,202 shares in the last quarter. First County Bank CT grew its holdings in shares of Amcor by 5.8% during the third quarter. First County Bank CT now owns 23,142 shares of the company’s stock valued at $189,000 after buying an additional 1,275 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Amcor by 3.3% during the third quarter. GAMMA Investing LLC now owns 40,471 shares of the company’s stock worth $331,000 after acquiring an additional 1,305 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.5%

Amcor stock opened at $8.46 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04. Amcor has a 52-week low of $7.66 and a 52-week high of $10.45. The firm has a 50 day moving average price of $8.33 and a two-hundred day moving average price of $8.64. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 0.83 and a beta of 0.68.

Shares of Amcor are going to reverse split on Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 14th.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 71.3% compared to the same quarter last year. Equities analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were issued a $0.13 dividend. The ex-dividend date was Friday, November 28th. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 6.2%. Amcor’s dividend payout ratio is currently 152.94%.

About Amcor

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.