Amcor’s (AMCR) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

Amcor (NYSE:AMCR)‘s stock had its “neutral” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Monday,Benzinga reports. They currently have a $47.00 price target on the stock, up from their previous price target of $44.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.09% from the company’s current price.

AMCR has been the topic of several other research reports. Bank of America raised their price target on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group set a $44.92 price objective on Amcor and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their price target on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday. BMO Capital Markets assumed coverage on shares of Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price for the company. Finally, UBS Group started coverage on Amcor in a research report on Tuesday, August 11th. They set a “buy” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.49.

Amcor Trading Up 0.0%

Amcor stock opened at $46.04 on Monday. The stock has a market capitalization of $21.29 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.09 and a beta of 0.62. Amcor has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.74 and a quick ratio of 0.42. The firm has a 50 day simple moving average of $43.57 and a 200-day simple moving average of $42.61.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, August 12th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the company posted $0.20 earnings per share. Amcor’s revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts expect that Amcor will post 4.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bangor Savings Bank purchased a new stake in Amcor in the second quarter valued at $26,000. AdvisorNet Financial Inc acquired a new stake in shares of Amcor during the first quarter worth approximately $25,000. Western Wealth Management LLC bought a new stake in Amcor during the first quarter worth approximately $27,000. Palladiem LLC bought a new position in Amcor during the first quarter valued at about $34,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Amcor during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Company Profile

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.