Amcor (NYSE:AMCR) Price Target Raised to $12.00

Amcor (NYSE:AMCR) had its price target boosted by Truist Financial from $11.00 to $12.00 in a research note published on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Amcor in a research report on Wednesday, September 10th. They issued a “buy” rating on the stock. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research note on Friday, October 10th. Wells Fargo & Company dropped their price objective on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. JPMorgan Chase & Co. started coverage on shares of Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 target price for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.67.

Amcor Stock Up 3.2%

Shares of Amcor stock opened at $8.67 on Tuesday. The firm has a market cap of $19.98 billion, a PE ratio of 25.49, a P/E/G ratio of 0.97 and a beta of 0.68. The business’s 50 day simple moving average is $8.36 and its 200 day simple moving average is $8.63. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04. Amcor has a 52-week low of $7.66 and a 52-week high of $10.45.

Shares of Amcor are going to reverse split on 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 released its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share 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 business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 71.3% compared to the same quarter last year. On average, analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Friday, November 28th were paid a $0.13 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 6.0%. Amcor’s dividend payout ratio (DPR) is currently 152.94%.

Hedge Funds Weigh In On Amcor

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in shares of Amcor by 51.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after acquiring an additional 158,082 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Amcor by 71.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock valued at $22,483,000 after purchasing an additional 1,019,306 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Amcor by 54,855.7% during the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after purchasing an additional 603,961 shares during the period. Prudential Financial Inc. boosted its position in shares of Amcor by 124.5% during the 2nd quarter. Prudential Financial Inc. now owns 395,591 shares of the company’s stock worth $3,635,000 after purchasing an additional 219,390 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Amcor in the 2nd quarter valued at about $328,839,000. 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: Baird upgraded Amcor from “hold” to “strong-buy,” citing self-help earnings, synergy realization and deleveraging as drivers of upside. Zacks: Baird Upgrade
• Positive Sentiment: Truist raised its price target to $12.00, giving the stock fresh upside vs. recent levels and reinforcing bullish analyst momentum. Truist Price Target
• Positive Sentiment: Citi issued a “buy,” adding to the cluster of buy-side recommendations that are pressuring shares higher. Citi Buy
• Positive Sentiment: Analyst write-ups highlight Amcor as undervalued (example: Seeking Alpha argues ~11x forward earnings), supporting the case for a yield/valuation trade. Seeking Alpha Valuation Note
• Positive Sentiment: TipRanks and other coverage emphasize potential earnings upside from cost savings and deleveraging — a fundamental bull case that supports higher multiples. TipRanks Analysis
• Neutral Sentiment: Coverage roundups (MSN) and market pieces are asking whether Amcor is a top plastics/rubber buy — useful for sentiment but not a direct catalyst. MSN Analyst Roundup
• Neutral Sentiment: Earnings are imminent and consensus expects modest single-digit EPS growth next quarter — the report is a near-term catalyst that could swing the stock either way. Earnings Preview
• Neutral Sentiment: A 1-for-5 reverse split is scheduled for Jan 15; this changes share count and per-share metrics but doesn’t alter fundamentals. (Background disclosure)

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.