Amcor (NYSE:AMCR) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a buy rating in a research note released on Monday, Marketbeat Ratings reports.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company increased their price target 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. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three investment 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 stock. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Up 1.6 %

NYSE AMCR opened at $10.21 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The stock has a market cap of $14.76 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The stock has a 50 day simple moving average of $9.77 and a two-hundred day simple moving average of $10.44.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share 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 $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts forecast that Amcor will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 4.99%. Amcor’s payout ratio is currently 96.23%.

Hedge Funds Weigh In On Amcor

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after purchasing an additional 2,804,484 shares during the last quarter. M&G PLC increased its position in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Amcor by 94.8% in the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after purchasing an additional 1,430,545 shares in the last quarter. Hedge funds and other 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.