Amcor (NYSE:AMCR) Downgraded by Wells Fargo & Company to Equal Weight

Amcor (NYSE:AMCR) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $43.00 price target on the stock, down from their previous price target of $48.00. Wells Fargo & Company‘s price objective indicates a potential upside of 11.19% from the stock’s previous close.

Several other equities analysts have also recently issued reports on AMCR. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, January 28th. Citigroup restated a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Robert W. Baird set a $54.00 target price on Amcor in a research report on Wednesday, February 4th. Finally, Truist Financial lifted their target price on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.25.

Amcor Stock Performance

Shares of AMCR stock opened at $38.67 on Friday. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.93 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $45.27 and its 200-day moving average price is $42.71. Amcor has a 12 month low of $38.02 and a 12 month high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s quarterly revenue was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities research analysts forecast that Amcor will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Amcor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its position in shares of Amcor by 55.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock worth $10,909,000 after acquiring an additional 467,065 shares in the last quarter. Alpine Global Management LLC boosted its position in shares of Amcor by 13.1% during the 4th quarter. Alpine Global Management LLC now owns 203,131 shares of the company’s stock valued at $1,694,000 after purchasing an additional 23,534 shares in the last quarter. MidFirst Bank acquired a new stake in Amcor during the fourth quarter worth approximately $148,000. Alternative Investment Advisors LLC. grew its stake in Amcor by 6.3% during the fourth quarter. Alternative Investment Advisors LLC. now owns 11,268 shares of the company’s stock worth $94,000 after purchasing an additional 671 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Amcor by 6.8% in the fourth quarter. Pacer Advisors Inc. now owns 196,252 shares of the company’s stock worth $1,637,000 after purchasing an additional 12,441 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Company Profile

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.