Amcor plc (NYSE:AMCR) Given Average Recommendation of “Hold” by Analysts

Shares of Amcor plc (NYSE:AMCRGet Rating) have received a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $12.00.

A number of equities analysts have recently commented on AMCR shares. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 4th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating in a research report on Thursday, October 13th. TheStreet upgraded shares of Amcor from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Jefferies Financial Group lowered shares of Amcor from a “hold” rating to an “underperform” rating in a research report on Thursday, August 18th. Finally, Macquarie lowered shares of Amcor from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 18th.

Amcor Price Performance

AMCR opened at $11.82 on Monday. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.81 and a beta of 0.79. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 1.73. The firm has a 50-day moving average price of $11.28 and a 200-day moving average price of $12.14. Amcor has a twelve month low of $10.42 and a twelve month high of $13.60.

Amcor (NYSE:AMCRGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Amcor had a return on equity of 28.47% and a net margin of 5.63%. Equities analysts expect that Amcor will post 0.78 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Wednesday, November 23rd will be paid a dividend of $0.1225 per share. The ex-dividend date is Tuesday, November 22nd. This is an increase from Amcor’s previous quarterly dividend of $0.12. This represents a $0.49 annualized dividend and a dividend yield of 4.15%. Amcor’s dividend payout ratio (DPR) is 85.71%.

Insiders Place Their Bets

In other Amcor news, insider Louis Fred Stephan sold 27,500 shares of Amcor stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $12.46, for a total transaction of $342,650.00. Following the transaction, the insider now directly owns 112,464 shares of the company’s stock, valued at $1,401,301.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Eric V. Roegner sold 1,035,748 shares of Amcor stock in a transaction on Friday, August 26th. The shares were sold at an average price of $12.58, for a total value of $13,029,709.84. Following the transaction, the insider now directly owns 278,308 shares of the company’s stock, valued at $3,501,114.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Louis Fred Stephan sold 27,500 shares of Amcor stock in a transaction on Monday, September 12th. The stock was sold at an average price of $12.46, for a total transaction of $342,650.00. Following the completion of the transaction, the insider now directly owns 112,464 shares in the company, valued at $1,401,301.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,905,114 shares of company stock valued at $35,840,080. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its position in Amcor by 1,680.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,422 shares of the company’s stock valued at $30,000 after purchasing an additional 2,286 shares during the period. First Horizon Advisors Inc. increased its position in Amcor by 81.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company’s stock valued at $37,000 after purchasing an additional 1,378 shares during the period. Clear Street Markets LLC increased its position in Amcor by 406.6% during the 2nd quarter. Clear Street Markets LLC now owns 3,141 shares of the company’s stock valued at $39,000 after purchasing an additional 2,521 shares during the period. Spire Wealth Management increased its position in Amcor by 29.5% during the 3rd quarter. Spire Wealth Management now owns 4,007 shares of the company’s stock valued at $43,000 after purchasing an additional 913 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Amcor by 78.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company’s stock valued at $51,000 after purchasing an additional 1,982 shares during the period. 47.76% of the stock is owned by hedge funds and other institutional investors.

Amcor Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Amcor (NYSE:AMCR)

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