Amcor (NYSE:AMCR) Upgraded at Truist Financial

Truist Financial upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a buy rating in a report released on Monday morning, Marketbeat reports. Truist Financial currently has $12.00 price target on the stock, up from their previous price target of $10.00.

Several other research analysts have also weighed in on AMCR. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three 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 MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Up 0.5 %

Shares of NYSE AMCR opened at $9.55 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $10.00 and its 200 day simple moving average is $10.45. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were given a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.34%. Amcor’s dividend payout ratio is presently 96.23%.

Hedge Funds Weigh In On Amcor

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. raised its holdings in Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after acquiring an additional 203,166 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after acquiring an additional 124,945 shares during the period. Cerity Partners LLC grew its holdings in shares of Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after purchasing an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amcor in the third quarter worth $5,919,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

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.