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

Amcor (NYSE:AMCR) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

AMCR has been the subject of a number of other reports. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Amcor Stock Down 0.4 %

Shares of NYSE 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 company has a 50-day moving average price of $10.62 and a 200-day moving average price of $10.52. The stock has a market capitalization of $14.42 billion, a P/E ratio of 18.83, a P/E/G 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.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Amcor will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Natixis Advisors LLC increased its stake in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after buying an additional 124,945 shares during the period. Cerity Partners LLC boosted its holdings in Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after acquiring an additional 95,805 shares in the last quarter. Sompo Asset Management Co. Ltd. increased its position in Amcor by 30.1% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock valued at $6,903,000 after purchasing an additional 140,850 shares during the period. Dimensional Fund Advisors LP raised its holdings in Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Amcor by 5.6% in the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company’s stock worth $27,071,000 after purchasing an additional 126,844 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

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.