Amcor (NYSE:AMCR) Upgraded to Strong-Buy at UBS Group

UBS Group upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on AMCR. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Citigroup raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a report on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Amcor Stock Down 0.4 %

Shares of AMCR opened at $9.98 on Wednesday. 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 stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. Amcor has a 1 year low of $8.78 and a 1 year high of $11.48. The business’s 50 day simple moving average is $10.65 and its 200-day simple moving average is $10.52.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.16 earnings per share. Amcor’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.11%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is 96.23%.

Institutional Investors Weigh In On Amcor

Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Amcor in the 3rd quarter valued at about $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor in the 3rd quarter worth approximately $35,000. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares during the period. 45.14% of the stock is owned by 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.