Amcor (NYSE:AMCR) Price Target Lowered to $50.00 at Truist Financial

Amcor (NYSE:AMCR) had its price target lowered by investment analysts at Truist Financial from $60.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 22.93% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Robert W. Baird set a $54.00 price target on shares of Amcor in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a report on Wednesday, January 28th. Finally, Wells Fargo & Company lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $43.00 in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.89.

Amcor Stock Performance

NYSE AMCR opened at $40.68 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 0.96 and a beta of 0.71. The company has a 50 day moving average of $44.05 and a 200-day moving average of $42.57. Amcor has a 1-year low of $37.94 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $5.53 billion. Amcor had a net margin of 3.04% and a return on equity of 15.57%. Amcor’s revenue for the quarter was up 68.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, equities analysts forecast that Amcor will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Amcor

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after acquiring an additional 2,432,340 shares during the period. M&G PLC grew its holdings in Amcor by 6.1% during the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after acquiring an additional 6,655,611 shares during the period. Vanguard Group Inc. grew its holdings in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Amcor by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after acquiring an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Amcor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after acquiring an additional 262,418 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.