Amcor (NYSE:AMCR) Price Target Increased to $11.00 by Analysts at Robert W. Baird

Amcor (NYSE:AMCR) had its target price upped by Robert W. Baird from $10.00 to $11.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Amcor from $10.00 to $11.10 and gave the stock an overweight rating in a research report on Tuesday, August 13th. Wells Fargo & Company started coverage on Amcor in a research report on Friday, June 28th. They set an equal weight rating and a $9.80 price objective for the company. Finally, Stifel Nicolaus started coverage on Amcor in a research report on Tuesday, July 9th. They set a hold rating and a $10.80 price objective for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $10.68.

Amcor Trading Up 1.5 %

AMCR opened at $10.61 on Friday. Amcor has a 12 month low of $8.45 and a 12 month high of $10.91. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 4.64 and a beta of 0.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The business has a fifty day moving average price of $10.11 and a 200 day moving average price of $9.69.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.19 EPS. Amcor’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Amcor will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s payout ratio is currently 111.11%.

Institutional Trading of Amcor

Several institutional investors and hedge funds have recently made changes to their positions in AMCR. Riverview Trust Co purchased a new stake in Amcor during the 1st quarter valued at approximately $28,000. Quent Capital LLC raised its stake in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the last quarter. UMB Bank n.a. raised its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Amcor during the 2nd quarter valued at approximately $47,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

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.