Amcor (NYSE:AMCR) Price Target Raised to $10.80 at Wells Fargo & Company

Amcor (NYSE:AMCR) had its price target increased by Wells Fargo & Company from $10.50 to $10.80 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus assumed coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Amcor currently has an average rating of “Hold” and an average price target of $10.78.

Amcor Price Performance

Shares of NYSE AMCR opened at $11.24 on Tuesday. The firm has a 50-day simple moving average of $11.09 and a 200-day simple moving average of $10.27. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. Amcor has a 52 week low of $8.45 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $0.19 EPS. Amcor’s revenue was down 3.8% compared to the same quarter last year. On average, equities analysts predict that Amcor will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMCR. Riverview Trust Co purchased a new stake in shares of Amcor in the 1st quarter valued at approximately $28,000. Rise Advisors LLC acquired a new stake in Amcor in the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC purchased a new stake in Amcor in the third quarter valued at approximately $35,000. Quent Capital LLC lifted its stake in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. Institutional investors and hedge funds 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.