Amcor (NYSE:AMCR) Raised to “Strong-Buy” at UBS Group

Amcor (NYSE:AMCR) was upgraded by investment analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on AMCR. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their target price 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. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday. Finally, Citigroup lifted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

Amcor Stock Performance

Shares of Amcor stock opened at $9.98 on Wednesday. Amcor has a 12 month low of $8.78 and a 12 month high of $11.48. The firm has a market capitalization of $14.42 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.83 and a beta of 0.82. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The business has a fifty day simple moving average of $10.62 and a two-hundred day simple moving average of $10.52.

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

Institutional Trading of Amcor

Several large investors have recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the period. Rise Advisors LLC purchased a new position in shares of Amcor in the third quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new stake in Amcor during the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its holdings in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

About Amcor

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.