Amcor (NYSE:AMCR) Upgraded by Baird R W to Strong-Buy Rating

Baird R W upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

AMCR has been the topic of a number of other reports. Morgan Stanley reiterated an “overweight” rating and set a $11.50 price objective on shares of Amcor in a research note on Wednesday, November 12th. Stifel Nicolaus raised shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a report on Friday, October 10th. Truist Financial lifted their price objective on shares of Amcor from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada initiated coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.67.

Amcor Stock Performance

AMCR opened at $8.41 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.62. The business has a fifty day simple moving average of $8.34 and a 200 day simple moving average of $8.63. Amcor has a 1 year low of $7.66 and a 1 year high of $10.45. The company has a market capitalization of $19.38 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 0.99 and a beta of 0.68.

Amcor’s stock is scheduled to reverse split on the morning of Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, January 14th.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 71.3% compared to the same quarter last year. Research analysts expect that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 28th. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s payout ratio is presently 152.94%.

Institutional Investors Weigh In On Amcor

Several hedge funds have recently modified their holdings of the company. Nordea Investment Management AB boosted its position in Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after buying an additional 94,753 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Amcor by 94.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,810 shares of the company’s stock worth $73,000 after purchasing an additional 4,287 shares in the last quarter. Board of the Pension Protection Fund increased its stake in shares of Amcor by 96.4% in the 4th quarter. Board of the Pension Protection Fund now owns 186,600 shares of the company’s stock valued at $1,556,000 after acquiring an additional 91,600 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Amcor by 15.5% in the 4th quarter. Park Avenue Securities LLC now owns 52,185 shares of the company’s stock valued at $435,000 after buying an additional 7,003 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Amcor by 213.1% during the fourth quarter. GAMMA Investing LLC now owns 126,702 shares of the company’s stock worth $1,057,000 after purchasing an additional 86,231 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

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.