Amcor plc (NASDAQ:AMCR) Given $10.74 Average Target Price by Brokerages

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Shares of Amcor plc (NASDAQ:AMCR) have earned a consensus broker rating score of 2.56 (Hold) from the nine brokers that provide coverage for the stock, Zacks Investment Research reports. Seven research analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company. Amcor’s rating score has improved by 7.9% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus target price of $10.74 for the company and are expecting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Amcor an industry rank of 36 out of 256 based on the ratings given to its competitors.

AMCR has been the topic of several research reports. Citigroup set a $5.00 price target on Forum Energy Technologies and gave the company a “buy” rating in a research note on Thursday, June 20th. Goldman Sachs Group initiated coverage on Taylor Wimpey in a research note on Wednesday, June 12th. They set a “buy” rating on the stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $20,707,000. Cornerstone Advisors Inc. bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $12,383,000. Retirement Systems of Alabama bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $8,697,000. Country Club Trust Company n.a. bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $7,074,000. Finally, Coastline Trust Co bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $2,534,000.

AMCR traded down $0.48 on Wednesday, hitting $10.79. 52,014 shares of the stock traded hands, compared to its average volume of 8,343,678. Amcor has a 52 week low of $10.46 and a 52 week high of $11.77.

Amcor (NASDAQ:AMCR) last issued its quarterly earnings results on Monday, April 22nd. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

About Amcor

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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