BMO Capital Markets Upgrades Amcor (NYSE:AMCR) to Hold

Amcor (NYSE:AMCR) was upgraded by BMO Capital Markets to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on AMCR. Wells Fargo & Company set a $43.00 target price on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Truist Financial restated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus price target of $48.40.

Amcor Price Performance

Shares of NYSE:AMCR opened at $43.96 on Thursday. The firm has a 50 day moving average of $40.65 and a 200-day moving average of $42.18. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $20.32 billion, a PE ratio of 30.74, a PEG ratio of 1.41 and a beta of 0.62.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, equities research analysts predict that Amcor will post 3.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMCR. Investors Research Corp lifted its stake in shares of Amcor by 32,298.9% in the 2nd quarter. Investors Research Corp now owns 28,187 shares of the company’s stock valued at $1,222,000 after acquiring an additional 28,100 shares during the last quarter. Fiduciary Financial Group LLC grew its position in Amcor by 8.4% during the 2nd quarter. Fiduciary Financial Group LLC now owns 7,863 shares of the company’s stock worth $341,000 after acquiring an additional 612 shares during the last quarter. First Bank & Trust grew its position in Amcor by 10.7% during the 2nd quarter. First Bank & Trust now owns 36,514 shares of the company’s stock worth $1,583,000 after acquiring an additional 3,541 shares during the last quarter. Gradient Investments LLC increased its holdings in Amcor by 14.4% in the 2nd quarter. Gradient Investments LLC now owns 130,897 shares of the company’s stock worth $5,674,000 after purchasing an additional 16,497 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in Amcor by 16.1% in the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after purchasing an additional 500 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

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.