Amcor (NYSE:AMCR) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of Amcor (NYSE:AMCR) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have $12.00 target price on the stock, up from their prior target price of $11.00.

A number of other analysts have also weighed in on AMCR. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Up 0.5 %

Shares of AMCR opened at $9.55 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.80 and a beta of 0.84. The company has a 50-day moving average of $10.00 and a 200 day moving average of $10.45. Amcor has a 1-year low of $8.78 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, research analysts expect that Amcor will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 5.34%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMCR. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in Amcor during the 3rd quarter worth about $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor during the 3rd quarter worth about $35,000. True Wealth Design LLC lifted its holdings in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.