Amcor plc [AMCR] is 0.76% higher this YTD. Is it still time to buy?

Amcor plc [NYSE: AMCR] jumped around 0.12 points on Monday, while shares priced at $12.00 at the close of the session, up 1.01%. The company report on January 16, 2023 that AMCOR EXPANDS HEALTHCARE PLATFORM IN THE ASIA PACIFIC REGION WITH ACQUISITION OF MDK.

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Complementary capabilities, product offering, and customer base solidifies leadership position in priority high growth medical device packaging segment.

Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it has entered into an agreement to acquire Shanghai-based MDK. MDK generates annual sales of approximately $50 million and is a leading provider of medical device packaging, a key priority growth segment for Amcor.

Amcor plc stock is now 0.76% up from its year-to-date (YTD) trading value. AMCR Stock saw the intraday high of $12.085 and lowest of $11.87 per share. The company’s 52-week high price is 13.60, which means current price is +2.83% above from all time high which was touched on 01/09/23.

Compared to the average trading volume of 7.44M shares, AMCR reached a trading volume of 5693100 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 $11.89 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 2.90. 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 0.22, with the Price to Sales ratio for AMCR stock in the period of the last 12 months amounting to 1.19. 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 294.55 with Quick ratio for the last quarter at 0.70.

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 -1.07. With this latest performance, AMCR shares dropped by -0.41% in over the last four-week period, additionally sinking by -4.76% over the last 6 months – not to mention a drop of -1.07% 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 48.89, with the RSI for the last a single of trading hit 48.51, and the three-weeks RSI is set at 49.88 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 12.05, while it was recorded at 11.93 for the last single week of trading, and 12.10 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 2.96%.

Insider trade positions for Amcor plc [AMCR]

There are presently around $8,490 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 $674.31 million in AMCR stock with ownership of nearly 0.239% of the company’s market capitalization.

303 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 65,151,316 shares. Additionally, 232 investors decreased positions by around 52,199,791 shares, while 90 investors held positions by with 590,165,207 shares. The mentioned changes placed institutional holdings at 707,516,314 shares, according to the latest SEC report filing. AMCR stock had 72 new institutional investments in for a total of 23,978,831 shares, while 48 institutional investors sold positions of 2,980,016 shares during the same period.

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