Brokerages Set Amcor plc (NYSE:AMCR) Price Target at $12.58

Amcor plc (NYSE:AMCR) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.48.

A number of brokerages recently weighed in on AMCR. The Goldman Sachs Group began coverage on Amcor in a research report on Friday, April 9th. They set a “neutral” rating and a $12.00 price objective on the stock. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 1st. Finally, Zacks Investment Research raised Amcor from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday.

Shares of Amcor stock traded up $0.04 during trading on Friday, hitting $11.40. 331,175 shares of the stock traded hands, compared to its average volume of 5,221,005. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.59 and a beta of 0.87. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 1.38. Amcor has a 52-week low of $10.05 and a 52-week high of $12.76. The firm’s fifty day moving average is $11.75.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Monday, May 3rd. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Amcor had a net margin of 6.88% and a return on equity of 20.36%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. On average, equities research analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Wednesday, May 26th were paid a $0.117 dividend. This represents a $0.47 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Tuesday, May 25th. Amcor’s payout ratio is 73.44%.

In related news, Director Arun Nayar sold 50,000 shares of Amcor stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $12.35, for a total transaction of $617,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald Stephen Delia sold 464,045 shares of Amcor stock in a transaction that occurred on Monday, June 14th. The shares were sold at an average price of $12.15, for a total value of $5,638,146.75. Following the transaction, the chief executive officer now owns 1,348,178 shares of the company’s stock, valued at $16,380,362.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 709,245 shares of company stock valued at $8,668,319. Company insiders own 0.28% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Amcor by 88.2% in the first quarter. Signaturefd LLC now owns 2,241 shares of the company’s stock valued at $26,000 after buying an additional 1,050 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Amcor by 90.1% in the first quarter. First Horizon Advisors Inc. now owns 2,467 shares of the company’s stock valued at $28,000 after buying an additional 1,169 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Amcor in the first quarter valued at approximately $32,000. RMR Wealth Builders increased its position in shares of Amcor by 134.8% in the first quarter. RMR Wealth Builders now owns 3,344 shares of the company’s stock valued at $39,000 after buying an additional 1,920 shares in the last quarter. Finally, Vantage Consulting Group Inc acquired a new stake in shares of Amcor in the fourth quarter worth approximately $40,000. Institutional investors own 36.46% of the company’s stock.

Amcor Company Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries worldwide. It operates through two segments, Flexibles and Rigid Packaging. The company provides flexible packaging products, rigid packaging containers, specialty cartons, and closures.

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Analyst Recommendations for Amcor (NYSE:AMCR)

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