Wells Fargo & Company Issues Positive Forecast for Amcor (NYSE:AMCR) Stock Price

Amcor (NYSE:AMCR) had its price target boosted by Wells Fargo & Company from $43.00 to $44.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. UBS Group initiated coverage on shares of Amcor in a research note on Tuesday. They set a “buy” rating and a $56.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Citigroup reiterated a “buy” rating and set a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday. Jefferies Financial Group set a $44.92 price target on Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. decreased their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.24.

Amcor Stock Down 0.7%

Shares of Amcor stock opened at $46.04 on Friday. The firm has a market cap of $21.29 billion, a PE ratio of 19.51, a P/E/G ratio of 1.45 and a beta of 0.62. The business’s 50 day simple moving average is $43.57 and its 200 day simple moving average is $42.62. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.95 and a current ratio of 0.74. Amcor has a 52-week low of $36.25 and a 52-week high of $50.94.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, analysts predict that Amcor will post 4.24 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be paid a $0.65 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.60 dividend on an annualized basis and a yield of 5.6%. Amcor’s dividend payout ratio (DPR) is currently 110.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMCR. Bangor Savings Bank acquired a new stake in Amcor in the 2nd quarter valued at about $26,000. AdvisorNet Financial Inc acquired a new position in Amcor during the first quarter worth approximately $25,000. Western Wealth Management LLC acquired a new position in Amcor during the first quarter worth approximately $27,000. Palladiem LLC acquired a new position in Amcor during the first quarter worth approximately $34,000. Finally, Root Financial Partners LLC bought a new stake in Amcor in the first quarter valued at approximately $41,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor News Roundup

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor received two AmeriStar packaging awards, highlighting product innovation and design capabilities. The recognition is strategically positive, although it is unlikely to materially affect near-term earnings. Amcor Garners Two AmeriStar Awards
• Positive Sentiment: Management outlined a transition-period adjusted EPS range of $1.80 to $1.90 and is targeting $650 million in synergies over three years. Successful execution could improve margins, cash flow and earnings visibility. Amcor outlines transition-period EPS range and synergies
• Positive Sentiment: Amcor declared a quarterly dividend of $0.65 per share, equivalent to approximately $2.60 annually and a yield near 5.6%. The payout supports the stock’s appeal to income-focused investors, although the ex-dividend date is September 4.
• Positive Sentiment: The latest quarterly results exceeded expectations, with EPS of $1.23 versus the $1.19 consensus and revenue of $6.40 billion versus $6.05 billion expected. Revenue increased 25.9% year over year, providing fundamental support for the shares.
• Neutral Sentiment: RBC Capital assigned a “Hold” rating, while UBS began coverage; neither development signals a strong change in institutional sentiment. RBC Capital gives Amcor a Hold rating
• Negative Sentiment: Wells Fargo raised its price target only to $44 from $43 while maintaining an “Equal Weight” rating. The new target remains below the recent $46.04 reference price, suggesting limited upside and potentially weighing on sentiment.

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.