Amcor plc [NYSE: AMCR] price surged by 0.34 percent to reach at $0.04. The company report on April 12, 2022 that Amcor increases use of advance recycling materials leveraging ExxonMobil’s Exxtend™ technology.
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New technology will result in more sustainable flexible polyethylene packaging.
Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it is the first company to purchase certified circular polyethylene material using ExxonMobil’s Exxtend™ technology for advanced recycling. Amcor will leverage this new material across its global portfolio, providing customers in healthcare and food industries with more recycled content in a variety of solutions and applications.
A sum of 4212028 shares traded at recent session while its average daily volume was at 8.44M shares. Amcor plc shares reached a high of $11.735 and dropped to a low of $11.60 until finishing in the latest session at $11.70.
The one-year AMCR stock forecast points to a potential upside of 4.8. The average equity rating for AMCR stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $12.29 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 0.24, with the Price to Sales ratio for AMCR stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 3.98, 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 172.51 with Quick ratio for the last quarter at 0.70.
AMCR Stock Performance Analysis:
Amcor plc [AMCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.74. With this latest performance, AMCR shares gained by 4.09% in over the last four-week period, additionally plugging by 0.26% over the last 6 months – not to mention a drop of -1.60% 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 57.03, with the RSI for the last a single of trading hit 61.42, and the three-weeks RSI is set at 54.18 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.49, while it was recorded at 11.67 for the last single week of trading, and 11.82 for the last 200 days.
Insight into Amcor plc Fundamentals:
Amcor plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.
AMCR Stock EPS
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%.
Amcor plc [AMCR] Insider Position Details
There are presently around $6,887 million, or 40.90% 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 $1.19 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $657.44 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 24,117,277 shares. Additionally, 224 investors decreased positions by around 37,251,943 shares, while 96 investors held positions by with 529,269,567 shares. The mentioned changes placed institutional holdings at 590,638,787 shares, according to the latest SEC report filing. AMCR stock had 81 new institutional investments in for a total of 10,331,059 shares, while 51 institutional investors sold positions of 8,736,431 shares during the same period.