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

Amcor plc [NYSE: AMCR] traded at a high on 11/21/22, posting a 1.44 gain after which it closed the day’ session at $11.99. The company report on November 17, 2022 that Amcor Sustainability Report reflects on landmark year, reveals higher target for recycled content.


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Global packaging leader commits to reach 30% recycled content across all products by 2030, tripling its prior target.

Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, today released its 2022 Sustainability Report, detailing continued progress against key sustainability metrics and announcing an enhanced target to achieve 30% recycled content across its portfolio by the end of the decade.

The results of the trading session contributed to over 7710089 shares changing hands. Over the past one week, the price volatility of Amcor plc stands at 2.18% while the volatility over the past one month is 2.20%.

The market cap for AMCR stock reached $17.81 billion, with 1.49 billion shares outstanding and 1.47 billion shares in the current float. Compared to the average trading volume of 8.14M shares, AMCR reached a trading volume of 7710089 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 $11.90 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 2.80. 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.

BofA Securities have made an estimate for Amcor plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 13, 2022. The new note on the price target was released on August 18, 2022, representing the official price target for Amcor plc stock.

The Average True Range (ATR) for Amcor plc is set at 0.30, with the Price to Sales ratio for AMCR stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 4.51, with the Price to Cash per share for the same quarter was set at 0.38. Price to Free Cash Flow for AMCR in the course of the last twelve months was 296.80 with Quick ratio for the last quarter at 0.70.

How has AMCR stock performed recently?

Amcor plc [AMCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.70. With this latest performance, AMCR shares gained by 6.11% in over the last four-week period, additionally sinking by -8.12% over the last 6 months – not to mention a rise of 0.76% 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 62.34, with the RSI for the last a single of trading hit 68.22, and the three-weeks RSI is set at 58.24 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.27, while it was recorded at 11.81 for the last single week of trading, and 11.96 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 0.70 and a Current Ratio set at 1.30.

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 2.69%.

Insider trade positions for Amcor plc [AMCR]

There are presently around $8,506 million, or 48.50% of AMCR stock, in the hands of institutional investors. The top three institutional holders of AMCR stocks are: BLACKROCK INC. with ownership of 116,990,870, which is approximately 1.269% of the company’s market cap and around 0.20% of the total institutional ownership; STATE STREET CORP, holding 100,618,189 shares of the stock with an approximate value of $1.21 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $673.75 million in AMCR stock with ownership of nearly 0.239% of the company’s market capitalization.

301 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 60,480,005 shares. Additionally, 226 investors decreased positions by around 52,461,443 shares, while 94 investors held positions by with 596,515,434 shares. The mentioned changes placed institutional holdings at 709,456,882 shares, according to the latest SEC report filing. AMCR stock had 65 new institutional investments in for a total of 24,203,440 shares, while 51 institutional investors sold positions of 3,244,170 shares during the same period.

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