UBS Group Begins Coverage on Amcor (NYSE:AMCR)

UBS Group initiated coverage on shares of Amcor (NYSE:AMCR) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $56.00 price target on the stock. UBS Group’s price target suggests a potential upside of 19.05% from the company’s current price.

AMCR has been the subject of a number of other reports. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the stock a “hold” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Bank of America increased their price target on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company set a $43.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Amcor in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.74.

Amcor Price Performance

Shares of NYSE:AMCR opened at $47.04 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a market capitalization of $21.75 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.50 and a beta of 0.62. The firm’s 50 day simple moving average is $42.89 and its two-hundred day simple moving average is $42.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bangor Savings Bank purchased a new stake in shares of Amcor in the second quarter worth about $26,000. AdvisorNet Financial Inc purchased a new position in shares of Amcor in the 1st quarter worth $25,000. Western Wealth Management LLC bought a new stake in shares of Amcor in the 1st quarter worth about $27,000. Palladiem LLC purchased a new position in Amcor in the first quarter worth about $34,000. Finally, Root Financial Partners LLC bought a new stake in shares of Amcor in the 1st quarter valued at approximately $41,000. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.