Amcor PLC (NYSE:AMCR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Amcor PLC (NYSE:AMCR) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $52.1429.

A number of equities analysts recently issued reports on AMCR shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Wells Fargo & Company raised their price target on shares of Amcor from $9.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Robert W. Baird raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Morgan Stanley downgraded Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a research report on Wednesday. Finally, Truist Financial upped their price target on Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, January 6th.

Amcor Trading Up 0.9%

Shares of NYSE:AMCR opened at $44.27 on Monday. The company has a market cap of $20.41 billion, a P/E ratio of 26.04, a P/E/G ratio of 1.02 and a beta of 0.68. The stock’s 50-day moving average is $42.35 and its 200-day moving average is $42.70. Amcor has a 52-week low of $38.33 and a 52-week high of $52.25. 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 (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The firm’s revenue was up 71.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. Equities research analysts predict that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Friday, November 28th were paid a $0.65 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.9%. Amcor’s dividend payout ratio is currently 152.94%.

Institutional Investors Weigh In On Amcor

A number of institutional investors have recently bought and sold shares of AMCR. N.E.W. Advisory Services LLC increased its holdings in shares of Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after buying an additional 373 shares in the last quarter. United Asset Strategies Inc. grew its position in Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after acquiring an additional 597 shares during the last quarter. Shayne & Jacobs LLC grew its position in Amcor by 0.6% during the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock worth $1,077,000 after acquiring an additional 755 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Amcor by 3.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company’s stock valued at $224,000 after purchasing an additional 832 shares in the last quarter. Finally, Brookstone Capital Management raised its position in Amcor by 3.1% in the 4th quarter. Brookstone Capital Management now owns 31,231 shares of the company’s stock valued at $260,000 after purchasing an additional 938 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

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.