Amcor plc [AMCR] is -5.50% lower this YTD. Is it still time to buy?


Amcor plc [NYSE: AMCR] gained 0.09% or 0.01 points to close at $11.35 with a heavy trading volume of 8092872 shares. The company report on March 24, 2022 that Amcor innovation recognized through multiple industry achievement awards.

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Industry-changing packaging garner top awards from the Flexible Packaging Association (FPA).

Amcor (NYSE: AMCR) (ASX: AMC), a global leader in developing and producing responsible packaging solutions, recently won three awards for its innovation and sustainability approach in solving today’s challenges for the packaging industry. The awards were part of the 2022 Flexible Packaging Achievement Awards, presented at the FPA ceremony on March 23 in Bonita Springs, Fla.

It opened the trading session at $11.34, the shares rose to $11.37 and dropped to $11.175, the range by which the price of stock traded the whole day. The daily chart for AMCR points out that the company has recorded -4.38% loss over the past six months. However, it is still -6.47% lower than its most recent low trading price.

If we look at the average trading volume of 8.11M shares, AMCR reached to a volume of 8092872 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $12.35 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 2.70. 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.

Truist have made an estimate for Amcor plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 25, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $13.40 to $12.30. The new note on the price target was released on March 25, 2022, representing the official price target for Amcor plc stock. Previously, the target price had yet another raise to $13.20, while BofA Securities analysts kept a Buy rating on AMCR stock. On August 18, 2021, analysts decreased their price target for AMCR shares from 12 to 11.50.

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 1.26. The Price to Book ratio for the last quarter was 3.86, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for AMCR in the course of the last twelve months was 169.21 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for AMCR stock

Amcor plc [AMCR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.96. With this latest performance, AMCR shares dropped by -3.81% in over the last four-week period, additionally sinking by -4.38% over the last 6 months – not to mention a drop of -3.81% 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 48.30, with the RSI for the last a single of trading hit 49.57, and the three-weeks RSI is set at 47.56 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.61, while it was recorded at 11.33 for the last single week of trading, and 11.82 for the last 200 days.

Amcor plc [AMCR]: A deeper dive into fundamental analysis

Amcor plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

Amcor plc [AMCR]: An earnings per share (EPS) analysis

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 6.75%.

An analysis of insider ownership at Amcor plc [AMCR]

There are presently around $6,714 million, or 40.80% of AMCR stock, in the hands of institutional investors. The top three institutional holders of AMCR stocks are: STATE STREET CORP with ownership of 102,172,624, which is approximately -8.522% of the company’s market cap and around 0.25% of the total institutional ownership; BLACKROCK INC., holding 101,926,773 shares of the stock with an approximate value of $1.16 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $639.39 million in AMCR stock with ownership of nearly -0.733% of the company’s market capitalization.

246 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 23,997,203 shares. Additionally, 227 investors decreased positions by around 38,053,932 shares, while 98 investors held positions by with 530,033,075 shares. The mentioned changes placed institutional holdings at 592,084,210 shares, according to the latest SEC report filing. AMCR stock had 82 new institutional investments in for a total of 9,860,337 shares, while 51 institutional investors sold positions of 9,562,767 shares during the same period.