Amcor (NYSE:AMCR) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Amcor (NYSE:AMCR) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other brokerages have also commented on AMCR. JPMorgan Chase & Co. lowered Amcor from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $47.00 in a research note on Monday, August 17th. BMO Capital Markets assumed coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. UBS Group assumed coverage on Amcor in a report on Tuesday, August 11th. They set a “buy” rating and a $56.00 price target for the company. Finally, Weiss Ratings raised Amcor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.54.

Amcor Stock Performance

NYSE AMCR traded down $0.84 during trading on Thursday, reaching $44.99. The company’s stock had a trading volume of 4,385,140 shares, compared to its average volume of 3,182,710. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $20.80 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56. Amcor has a 12 month low of $36.25 and a 12 month high of $50.94. The firm has a 50 day moving average price of $44.00 and a 200 day moving average price of $43.17.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.01). The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.75 billion. Amcor had a net margin of 4.71% and a return on equity of 15.92%. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities analysts anticipate that Amcor will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Amcor

A number of institutional investors and hedge funds have recently made changes to their positions in AMCR. Foresight Capital Management Advisors Inc. bought a new stake in shares of Amcor during the third quarter worth about $25,000. Bangor Savings Bank bought a new stake in Amcor during the 2nd quarter worth approximately $26,000. Western Wealth Management LLC bought a new stake in Amcor during the 1st quarter worth approximately $27,000. Palladiem LLC bought a new stake in Amcor during the 1st quarter worth approximately $34,000. Finally, Fortitude Family Office LLC raised its stake in shares of Amcor by 216.9% in the third quarter. Fortitude Family Office LLC now owns 954 shares of the company’s stock worth $40,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Key Stories Impacting Amcor

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Amcor raised its quarterly dividend 1.5%, from $0.65 to $0.66 per share. The annualized payout is $2.64, equivalent to a yield of about 5.7% at the cited share price. Dividend information
• Positive Sentiment: Truist maintained a Buy rating and lifted its price target to $53 from $51, signaling continued confidence in Amcor’s prospects. Truist price-target update
• Positive Sentiment: Amcor reported revenue of $6.13 billion, above the $5.75 billion consensus estimate, and cited higher volumes. Its new lightweight closure and DecoFusion tube award also support its sustainability and product-innovation profile, though these developments may have limited near-term financial impact. Quarterly results Lightweight closure announcement DecoFusion award
• Neutral Sentiment: Amcor filed its quarterly report and confirmed listing compliance; the notice did not indicate a material change to its outlook. Quarterly filing notice
• Negative Sentiment: Quarterly EPS was $0.95, below the $0.96 consensus estimate. Amcor attributed pressure to higher costs and cut its transition-period EPS outlook, raising concerns about near-term earnings even as revenue exceeded expectations. Earnings and outlook report
• Negative Sentiment: Deutsche Bank downgraded AMCR from Buy to Hold, adding to caution around valuation and the near-term outlook. Deutsche Bank rating change

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.