Amcor PLC (NYSE:AMCR) Stock Has Average Price Target of $49.49

Amcor PLC (NYSE:AMCR) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.49.

Several research analysts have recently issued reports on AMCR shares. Wells Fargo & Company boosted their price objective on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $47.00 target price (up from $44.00) on shares of Amcor in a research note on Monday, August 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. Bank of America boosted their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Citigroup restated a “buy” rating and set a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday, August 14th.

Institutional Trading of Amcor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors bought a new position in shares of Amcor during the 4th quarter worth approximately $354,227,000. Goldman Sachs Group Inc. raised its stake in Amcor by 12.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,328,439 shares of the company’s stock worth $119,499,000 after acquiring an additional 1,603,673 shares in the last quarter. Capital World Investors raised its stake in Amcor by 7.5% during the fourth quarter. Capital World Investors now owns 4,893,720 shares of the company’s stock worth $40,814,000 after acquiring an additional 342,350 shares in the last quarter. Capital International Inc. CA bought a new position in shares of Amcor during the fourth quarter valued at $29,106,000. Finally, Alps Advisors Inc. lifted its holdings in shares of Amcor by 2.9% during the fourth quarter. Alps Advisors Inc. now owns 3,048,031 shares of the company’s stock valued at $25,421,000 after acquiring an additional 85,083 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR opened at $41.29 on Friday. The firm has a market capitalization of $19.09 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. The stock’s 50 day moving average price is $44.75 and its two-hundred day moving average price is $42.11. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the previous year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts forecast that Amcor will post 1.84 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, September 4th. Amcor’s dividend payout ratio (DPR) is presently 110.17%.

Amcor Company Profile

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.

The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.