CLSA slashes price target on Amcor plc [AMCR] – find out why.

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Amcor plc [NYSE: AMCR] price surged by 1.26 percent to reach at $0.16. The company report on July 21, 2022 that Amcor’s more sustainable packaging innovations recognized with two accolades.


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Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, has received two accolades recognizing its more sustainable packaging innovations. Amcor respectfully won a silver award at the 2022 Australasian Packaging Innovation and Design Awards (PIDA) and was named a 2022 Sustainability Leader in the Australian Financial Review’s (AFR) annual list.

The AFR listed Amcor as a 2022 Australian Financial Review Sustainability Leader in the Manufacturing and Consumer Goods category, in association with BCG. The AFR Sustainability Leaders list recognizes Australian businesses making progress in tackling sustainability challenges over the past year. Amcor’s Australian business was recognised for its multiple achievements over the last financial year, including converting more than 85% of products to recycle-ready formats, with almost 95% of products designed to be recyclable. Amcor’s contribution to create Australia’s first, food grade recycled flexible wrapper for Nestle’s KitKat helped to underscore its commitment to innovation and sustainability. In addition, Amcor spends more than $100 million on research and development every year to develop and produce more sustainable packaging solutions.

A sum of 8503620 shares traded at recent session while its average daily volume was at 12.02M shares. Amcor plc shares reached a high of $12.91 and dropped to a low of $12.64 until finishing in the latest session at $12.90.

The one-year AMCR stock forecast points to a potential downside of -3.04. The average equity rating for AMCR stock is currently 3.00, 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 $12.52 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 3.00. 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.

CLSA have made an estimate for Amcor plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 19, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Hold. 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 drop from $13.40 to $12.30, while BofA Securities kept a Underperform 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 1.38. The Price to Book ratio for the last quarter was 4.29, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for AMCR in the course of the last twelve months was 101.82 with Quick ratio for the last quarter at 0.80.

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 2.14. With this latest performance, AMCR shares gained by 3.95% in over the last four-week period, additionally plugging by 8.22% over the last 6 months – not to mention a rise of 12.27% 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 59.52, with the RSI for the last a single of trading hit 64.97, and the three-weeks RSI is set at 56.67 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 12.67, while it was recorded at 12.67 for the last single week of trading, and 12.02 for the last 200 days.

Insight into Amcor plc Fundamentals:

Amcor plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.

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 5.95%.

Amcor plc [AMCR] Insider Position Details

There are presently around $8,039 million, or 44.10% of AMCR stock, in the hands of institutional investors. The top three institutional holders of AMCR stocks are: STATE STREET CORP with ownership of 112,644,781, which is approximately 10.249% of the company’s market cap and around 0.26% of the total institutional ownership; BLACKROCK INC., holding 99,995,679 shares of the stock with an approximate value of $1.27 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $722.89 million in AMCR stock with ownership of nearly 0.635% of the company’s market capitalization.

261 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 62,809,479 shares. Additionally, 238 investors decreased positions by around 25,427,382 shares, while 85 investors held positions by with 542,801,450 shares. The mentioned changes placed institutional holdings at 631,038,311 shares, according to the latest SEC report filing. AMCR stock had 80 new institutional investments in for a total of 8,424,417 shares, while 53 institutional investors sold positions of 4,312,550 shares during the same period.

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