Amcor (NYSE:AMCR) Rating Lowered to Equal Weight at Wells Fargo & Company

Amcor (NYSE:AMCR) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Friday, MarketBeat.com reports. They presently have a $43.00 target price on the stock, down from their prior target price of $48.00. Wells Fargo & Company‘s price target would indicate a potential upside of 11.19% from the company’s previous close.

AMCR has been the subject of a number of other reports. Citigroup reiterated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Robert W. Baird set a $54.00 price target on Amcor in a research note on Wednesday, February 4th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a report on Wednesday, January 21st. Finally, Truist Financial boosted their price objective on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.25.

Amcor Stock Down 3.0%

Shares of AMCR opened at $38.67 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. Amcor has a 12 month low of $38.02 and a 12 month high of $50.94. The firm’s 50 day moving average is $45.27 and its 200-day moving average is $42.71. The stock has a market capitalization of $17.87 billion, a PE ratio of 25.28, a P/E/G ratio of 0.93 and a beta of 0.65.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm’s revenue for the quarter was up 68.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities research analysts forecast that Amcor will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Amcor

A number of hedge funds have recently made changes to their positions in the stock. Capital International Investors acquired a new position in Amcor during the 4th quarter worth approximately $354,227,000. Vanguard Group Inc. boosted its position in Amcor by 61.8% in the second quarter. Vanguard Group Inc. now owns 110,228,036 shares of the company’s stock valued at $1,012,996,000 after buying an additional 42,122,135 shares in the last quarter. State Street Corp grew its stake in shares of Amcor by 41.4% during the second quarter. State Street Corp now owns 129,701,986 shares of the company’s stock worth $1,191,961,000 after buying an additional 37,982,310 shares during the last quarter. Norges Bank bought a new stake in shares of Amcor during the fourth quarter worth $308,724,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 62.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 80,770,303 shares of the company’s stock worth $742,279,000 after buying an additional 30,938,660 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.