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

Amcor plc [NYSE: AMCR] jumped around 0.01 points on Tuesday, while shares priced at $12.40 at the close of the session, up 0.08%. The company report on August 3, 2022 that Amcor to report Full Year 2022 results.

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Amcor plc (NYSE: AMCR; ASX: AMC) will announce its full year results for the twelve months ended 30 June 2022 after the US market closes on Wednesday 17 August 2022.

A conference call and webcast to discuss the results will be held at 5.30pm US Eastern Daylight Time on Wednesday 17 August 2022 / 7.30am Australian Eastern Standard Time on Thursday 18 August 2022. For those wishing to participate in the call please use the following dial-in numbers:.

Amcor plc stock is now 3.25% up from its year-to-date (YTD) trading value. AMCR Stock saw the intraday high of $12.48 and lowest of $12.315 per share. The company’s 52-week high price is 13.60, which means current price is +16.28% above from all time high which was touched on 06/06/22.

Compared to the average trading volume of 10.74M shares, AMCR reached a trading volume of 8066714 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 $12.52 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.

Morgan Stanley have made an estimate for Amcor plc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 04, 2022. While these analysts kept the previous recommendation, CLSA raised their target price to Buy. The new note on the price target was released on July 19, 2022, representing the official price target for Amcor plc stock. Previously, the target price had yet another raise to $12, while Truist analysts kept a Hold rating on AMCR stock. On March 25, 2022, analysts decreased their price target for AMCR shares from 13.40 to 12.30.

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 1.36. The Price to Book ratio for the last quarter was 4.12, with the Price to Cash per share for the same quarter was set at 0.70. Price to Free Cash Flow for AMCR in the course of the last twelve months was 100.11 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 -2.75. With this latest performance, AMCR shares dropped by -1.59% in over the last four-week period, additionally plugging by 7.92% over the last 6 months – not to mention a rise of 4.91% 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 44.31, with the RSI for the last a single of trading hit 40.17, and the three-weeks RSI is set at 46.66 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 12.62, while it was recorded at 12.47 for the last single week of trading, and 12.07 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 1.40.

Earnings analysis for Amcor plc [AMCR]

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%.

Insider trade positions for Amcor plc [AMCR]

There are presently around $7,950 million, or 44.60% 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 $1.24 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $703.6 million in AMCR stock with ownership of nearly 0.635% of the company’s market capitalization.

282 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 68,120,762 shares. Additionally, 229 investors decreased positions by around 24,830,730 shares, while 81 investors held positions by with 548,138,961 shares. The mentioned changes placed institutional holdings at 641,090,453 shares, according to the latest SEC report filing. AMCR stock had 82 new institutional investments in for a total of 7,806,807 shares, while 51 institutional investors sold positions of 3,726,591 shares during the same period.


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