Amcor (NYSE:AMCR) PT Raised to $10.80

Amcor (NYSE:AMCR) had its price target increased by analysts at Wells Fargo & Company from $10.50 to $10.80 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 4.26% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Stifel Nicolaus initiated coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Citigroup lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of “Hold” and an average target price of $10.78.

Amcor Price Performance

NYSE:AMCR opened at $11.28 on Tuesday. The business’s 50-day moving average price is $11.06 and its 200 day moving average price is $10.25. The firm has a market cap of $16.30 billion, a P/E ratio of 25.07, a PEG ratio of 2.72 and a beta of 0.85. Amcor has a 52-week low of $8.45 and a 52-week high of $11.48. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. Amcor’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. As a group, sell-side analysts predict that Amcor will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in Amcor in the 1st quarter worth approximately $28,000. Rise Advisors LLC bought a new stake in shares of Amcor during the third quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor during the third quarter valued at approximately $35,000. Quent Capital LLC increased its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after purchasing an additional 2,519 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Company Profile

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.