BMO Capital Markets slashes price target on Amcor plc [AMCR] – find out why.

Amcor plc [NYSE: AMCR] jumped around 0.14 points on Wednesday, while shares priced at $11.64 at the close of the session, up 1.22%. The company report on March 9, 2021 that Amcor announces new partnership with Alliance to End Plastic Waste.

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Amcor has announced that it is joining the Alliance to End Plastic Waste (the Alliance) at Executive Committee level.

Amcor and the Alliance share the belief that collaboration and collective action are critical to eliminating plastic waste. Alliance membership also aligns with Amcor’s 2025 Sustainability Pledge to develop all its packaging to be recyclable or reusable by 2025. This new partnership is the latest example of Amcor’s commitment to better waste management and recycling infrastructure.

Amcor plc stock is now -1.10% down from its year-to-date (YTD) trading value. AMCR Stock saw the intraday high of $11.68 and lowest of $11.425 per share. The company’s 52-week high price is 12.40, which means current price is +9.19% above from all time high which was touched on 03/10/21.

Compared to the average trading volume of 6.07M shares, AMCR reached a trading volume of 5386129 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Amcor plc [AMCR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMCR shares is $12.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMCR stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Amcor plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 04, 2021. The new note on the price target was released on February 03, 2021, representing the official price target for Amcor plc stock. Previously, the target price had yet another raise to $12, while Deutsche Bank analysts kept a Hold rating on AMCR stock.

The Average True Range (ATR) for Amcor plc is set at 0.28, with the Price to Sales ratio for AMCR stock in the period of the last 12 months amounting to 1.45. The Price to Book ratio for the last quarter was 3.79, with the Price to Cash per share for the same quarter was set at 0.49. Price to Free Cash Flow for AMCR in the course of the last twelve months was 55.11 with Quick ratio for the last quarter at 0.80.

How has AMCR stock performed recently?

Amcor plc [AMCR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.43. With this latest performance, AMCR shares gained by 3.47% in over the last four-week period, additionally plugging by 3.84% over the last 6 months – not to mention a rise of 86.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMCR stock in for the last two-week period is set at 53.54, with the RSI for the last a single of trading hit 53.03, and the three-weeks RSI is set at 53.17 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.37, while it was recorded at 11.68 for the last single week of trading, and 11.10 for the last 200 days.

Amcor plc [AMCR]: Deeper insight into the fundamentals

Amcor plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.30.

Earnings analysis for Amcor plc [AMCR]

With the latest financial reports released by the company, Amcor plc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMCR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amcor plc go to 7.64%.

Insider trade positions for Amcor plc [AMCR]

There are presently around $6,521 million, or 37.70% of AMCR stock, in the hands of institutional investors. The top three institutional holders of AMCR stocks are: BLACKROCK INC. with ownership of 107,754,819, which is approximately -1.525% of the company’s market cap and around 0.21% of the total institutional ownership; STATE STREET CORP, holding 84,261,234 shares of the stock with an approximate value of $980.8 million in AMCR stocks shares; and VANGUARD GROUP INC, currently with $643.73 million in AMCR stock with ownership of nearly -1.684% of the company’s market capitalization.

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236 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 30,976,909 shares. Additionally, 206 investors decreased positions by around 26,331,580 shares, while 78 investors held positions by with 502,924,950 shares. The mentioned changes placed institutional holdings at 560,233,439 shares, according to the latest SEC report filing. AMCR stock had 85 new institutional investments in for a total of 7,388,776 shares, while 35 institutional investors sold positions of 1,800,800 shares during the same period.

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