Brokerages Set Amcor plc (NYSE:AMCR) Price Target at $11.31

Amcor plc (NYSE:AMCR) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.31.

A number of equities research analysts have recently issued reports on AMCR shares. Raymond James started coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Truist Financial reduced their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Amcor Trading Up 2.5%

Shares of NYSE:AMCR opened at $9.18 on Wednesday. Amcor has a 12-month low of $8.37 and a 12-month high of $11.48. The stock has a market cap of $13.27 billion, a PE ratio of 16.69, a P/E/G ratio of 1.96 and a beta of 0.78. The business has a 50 day moving average of $9.31 and a 200-day moving average of $9.71. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.56%. Amcor’s payout ratio is 91.07%.

Insider Activity

In other news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company’s stock valued at $62,000 after purchasing an additional 1,066 shares in the last quarter. AlphaStar Capital Management LLC raised its position in Amcor by 2.4% during the first quarter. AlphaStar Capital Management LLC now owns 50,472 shares of the company’s stock valued at $490,000 after purchasing an additional 1,185 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Amcor by 10.1% during the first quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company’s stock valued at $132,000 after purchasing an additional 1,252 shares in the last quarter. Virtue Capital Management LLC raised its position in Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock valued at $432,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company’s stock worth $1,130,000 after buying an additional 1,300 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.