Amcor (NYSE:AMCR) Stock Gets Price Target Bump from Truist Financial

Amcor (NYSE:AMCR) had its price objective increased by research analysts at Truist Financial from $51.00 to $53.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s target price would suggest a potential upside of 17.79% from the company’s current price.

A number of other equities research analysts have also commented on AMCR. UBS Group began coverage on shares of Amcor in a report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price objective on the stock. Weiss Ratings raised shares of Amcor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Citigroup reiterated a “buy” rating and set a $52.00 target price (up from $47.00) on shares of Amcor in a report on Friday, August 14th. JPMorgan Chase & Co. cut Amcor from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $44.00 to $47.00 in a report on Monday, August 17th. Finally, BMO Capital Markets assumed coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.54.

Amcor Stock Down 1.8%

NYSE AMCR traded down $0.84 during trading hours on Thursday, reaching $44.99. 4,385,140 shares of the company’s stock were exchanged, compared to its average volume of 3,182,710. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56. The company’s 50-day moving average is $44.00 and its two-hundred day moving average is $43.17. Amcor has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.01). The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. During the same period in the previous year, the firm posted $0.11 EPS. On average, analysts forecast that Amcor will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Amcor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Foresight Capital Management Advisors Inc. acquired a new stake in shares of Amcor in the third quarter valued at about $25,000. Bangor Savings Bank bought a new stake in Amcor during the second quarter worth about $26,000. Western Wealth Management LLC acquired a new position in Amcor during the first quarter valued at approximately $27,000. Palladiem LLC acquired a new position in Amcor during the first quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC grew its stake in Amcor by 216.9% in the third quarter. Fortitude Family Office LLC now owns 954 shares of the company’s stock valued at $40,000 after purchasing an additional 653 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Amcor

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor raised its quarterly dividend 1.5%, from $0.65 to $0.66 per share. The annualized payout is $2.64, equivalent to a yield of about 5.7% at the cited share price. Dividend information
• Positive Sentiment: Truist maintained a Buy rating and lifted its price target to $53 from $51, signaling continued confidence in Amcor’s prospects. Truist price-target update
• Positive Sentiment: Amcor reported revenue of $6.13 billion, above the $5.75 billion consensus estimate, and cited higher volumes. Its new lightweight closure and DecoFusion tube award also support its sustainability and product-innovation profile, though these developments may have limited near-term financial impact. Quarterly results Lightweight closure announcement DecoFusion award
• Neutral Sentiment: Amcor filed its quarterly report and confirmed listing compliance; the notice did not indicate a material change to its outlook. Quarterly filing notice
• Negative Sentiment: Quarterly EPS was $0.95, below the $0.96 consensus estimate. Amcor attributed pressure to higher costs and cut its transition-period EPS outlook, raising concerns about near-term earnings even as revenue exceeded expectations. Earnings and outlook report
• Negative Sentiment: Deutsche Bank downgraded AMCR from Buy to Hold, adding to caution around valuation and the near-term outlook. Deutsche Bank rating change

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.