Robert W. Baird Has Lowered Expectations for Amcor (NYSE:AMCR) Stock Price

Amcor (NYSE:AMCR) had its price objective lowered by Robert W. Baird from $11.00 to $10.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a “buy” rating in a report on Friday, July 11th. Raymond James Financial started coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Finally, UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

Amcor Trading Down 0.3%

Shares of NYSE AMCR opened at $8.73 on Friday. The company’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $9.52. Amcor has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm has a market capitalization of $12.62 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.12 and a beta of 0.74. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.67 and a quick ratio of 1.16.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 43.8% on a year-over-year basis. On average, analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 5.8%. Amcor’s payout ratio is presently 91.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Amcor by 27.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 1,063,097 shares of the company’s stock valued at $9,770,000 after buying an additional 229,147 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Amcor by 144.1% in the second quarter. Tower Research Capital LLC TRC now owns 431,990 shares of the company’s stock worth $3,970,000 after purchasing an additional 254,999 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Amcor in the second quarter worth $62,000. Corient Private Wealth LLC lifted its position in shares of Amcor by 10.3% in the second quarter. Corient Private Wealth LLC now owns 2,019,947 shares of the company’s stock worth $18,227,000 after purchasing an additional 189,430 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in shares of Amcor by 84.3% in the second quarter. State of Tennessee Department of Treasury now owns 833,790 shares of the company’s stock worth $7,663,000 after purchasing an additional 381,327 shares in the last quarter. 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.