Amcor (NYSE:AMCR) PT Raised to $10.80

Amcor (NYSE:AMCR) had its price target upped by stock analysts at Wells Fargo & Company from $10.50 to $10.80 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 4.85% from the company’s previous close.

A number of other research firms have also recently commented on AMCR. Citigroup increased their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus began coverage on shares of Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.78.

Amcor Stock Up 0.1 %

Shares of NYSE:AMCR traded up $0.01 during trading on Tuesday, reaching $11.35. The stock had a trading volume of 330,384 shares, compared to its average volume of 8,902,057. The firm’s 50-day simple moving average is $11.03 and its 200 day simple moving average is $10.23. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Amcor has a one year low of $8.45 and a one year high of $11.48. The company has a market capitalization of $16.40 billion, a P/E ratio of 25.22, a PEG ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. As a group, research analysts expect that Amcor will post 0.75 EPS for the current fiscal year.

Institutional Trading of Amcor

Hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Amcor during the 1st quarter worth about $28,000. Rise Advisors LLC acquired a new position in shares of Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in shares of Amcor during the 3rd quarter valued at approximately $35,000. Quent Capital LLC grew its stake in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

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.