Amcor (NYSE:AMCR) Hits New 12-Month Low – Time to Sell?

Amcor PLC (NYSE:AMCR) reached a new 52-week low during trading on Tuesday . The company traded as low as $36.47 and last traded at $36.8540, with a volume of 139053 shares trading hands. The stock had previously closed at $37.49.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMCR. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reissued a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $48.00 to $43.00 in a report on Friday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $49.56.

Amcor Trading Down 1.5%

The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average of $39.96 and a 200 day moving average of $42.39. The company has a market cap of $17.08 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 7.0%. Amcor’s payout ratio is currently 181.82%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. AdvisorNet Financial Inc acquired a new position in Amcor during the 1st quarter valued at about $25,000. Quent Capital LLC purchased a new stake in shares of Amcor in the third quarter worth approximately $27,000. DV Equities LLC purchased a new stake in shares of Amcor in the fourth quarter worth approximately $27,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

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.