Amcor plc [AMCR] stock Initiated by Truist analyst, price target now $12

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Amcor plc [NYSE: AMCR] surged by $0.07 during the normal trading session on Monday and reaching a high of $11.66 during the day while it closed the day at $11.65. The company report on April 25, 2022 that Amcor to expand healthcare packaging capabilities in Europe.

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Amcor (NYSE: AMCR) (ASX: AMC), a global leader in developing and producing responsible packaging solutions, today announced an investment to establish new thermoforming capabilities for medical packaging in its Sligo, Ireland, healthcare packaging facility. The multi-million-dollar investment will strengthen Amcor’s leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions.

“The additional capabilities in our Sligo site allow us to provide customers with even more differentiated and efficient solutions to meet their healthcare packaging needs,” said Amcor’s Chief Commercial Officer Peter Konieczny. “With our global scale and innovation capabilities, Amcor is uniquely positioned to capture growing demand for both medical and pharmaceutical packaging products globally.”.

Amcor plc stock has also gained 1.04% of its value over the past 7 days. However, AMCR stock has declined by -2.27% in the 3 months of the year. Over the past six months meanwhile, it has lost -4.19% and lost -3.00% year-on date.

The market cap for AMCR stock reached $18.29 billion, with 1.52 billion shares outstanding and 1.49 billion shares in the current float. Compared to the average trading volume of 8.20M shares, AMCR reached a trading volume of 8118747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $12.29 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 1.35. The Price to Book ratio for the last quarter was 3.96, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for AMCR in the course of the last twelve months was 181.09 with Quick ratio for the last quarter at 0.70.

AMCR stock trade performance evaluation

Amcor plc [AMCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, AMCR shares gained by 3.28% in over the last four-week period, additionally sinking by -4.19% over the last 6 months – not to mention a drop of -0.77% 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 51.43, with the RSI for the last a single of trading hit 50.07, and the three-weeks RSI is set at 51.31 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.50, while it was recorded at 11.79 for the last single week of trading, and 11.82 for the last 200 days.

Amcor plc [AMCR]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Amcor plc [AMCR] stock

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 6.47%.

Amcor plc [AMCR]: Insider Ownership positions

There are presently around $6,845 million, or 41.00% 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 $1.18 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $652.93 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 24,384,967 shares. Additionally, 229 investors decreased positions by around 33,742,837 shares, while 91 investors held positions by with 532,998,148 shares. The mentioned changes placed institutional holdings at 591,125,952 shares, according to the latest SEC report filing. AMCR stock had 77 new institutional investments in for a total of 10,258,807 shares, while 53 institutional investors sold positions of 5,225,557 shares during the same period.