Amcor (NYSE:AMCR) Upgraded at Citigroup

Citigroup upgraded shares of Amcor (NYSE:AMCR) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat reports. The brokerage currently has $12.00 price objective on the stock, up from their prior price objective of $11.00.

Other equities analysts have also issued reports about the stock. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $12.00 in a research report on Monday. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price objective 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 upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Trading Up 0.5 %

Shares of Amcor stock opened at $9.55 on Monday. 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 $13.80 billion, a PE ratio of 18.02, a P/E/G ratio of 1.80 and a beta of 0.84. Amcor has a 1-year low of $8.78 and a 1-year high of $11.48. The company’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $10.45.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Amcor will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 96.23%.

Institutional Investors Weigh In On Amcor

Several institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the last quarter. Franklin Resources Inc. increased its position in Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after acquiring an additional 203,166 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Amcor by 24.5% in the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after acquiring an additional 124,945 shares during the period. Cerity Partners LLC raised its stake in shares of 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Amcor in the 3rd quarter worth about $5,919,000. 45.14% of the stock is owned by institutional investors.

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.