Amcor (NYSE:AMCR) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, The Fly reports.
Several other equities research analysts have also issued reports on AMCR. Jefferies Financial Group assumed coverage on shares of Amcor in a report on Tuesday, October 22nd. They issued an “underperform” rating for the company. ValuEngine raised shares of Amcor from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.00.
Shares of NYSE:AMCR traded down $0.04 during trading on Monday, hitting $9.73. The company’s stock had a trading volume of 843,428 shares, compared to its average volume of 5,784,187. The company has a 50-day simple moving average of $9.62. Amcor has a 12 month low of $8.75 and a 12 month high of $11.77. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 15.94 and a beta of 0.75.
Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.65 billion. Amcor had a return on equity of 22.10% and a net margin of 4.72%. Amcor’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS.
In related news, insider Louis Fred Stephan sold 69,787 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.27, for a total value of $716,712.49. Corporate insiders own 0.23% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. QCI Asset Management Inc. NY bought a new stake in Amcor in the second quarter worth $31,000. Russell Investments Group Ltd. bought a new stake in Amcor in the second quarter worth $2,768,000. Atria Investments LLC bought a new stake in Amcor in the second quarter worth $45,084,000. Private Trust Co. NA bought a new stake in Amcor in the second quarter worth $264,000. Finally, BlackRock Inc. bought a new stake in Amcor in the second quarter worth $745,182,000. 26.66% of the stock is owned by institutional investors and hedge funds.
Amcor Company Profile
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.
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