Amcor (NYSE:AMCR) Raised to Buy at Jefferies Financial Group

Amcor (NYSE:AMCR) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports.

AMCR has been the topic of a number of other reports. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

Shares of Amcor stock traded down $0.16 during trading hours on Monday, hitting $9.57. 16,197,697 shares of the company’s stock traded hands, compared to its average volume of 16,546,627. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.86 and a beta of 0.84. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48. 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 company has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $10.45.

Amcor (NYSE:AMCR) last issued its 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. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Institutional Trading of Amcor

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. boosted its holdings in Amcor by 39.3% during 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 during the period. Natixis Advisors LLC raised its stake in shares of Amcor by 24.5% in the third 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 in the last quarter. Cerity Partners LLC boosted its holdings in Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Amcor during the 3rd quarter worth $5,919,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

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.