Amcor plc [AMCR] is -10.16% lower this YTD. Is it still time to buy?

Amcor plc [NYSE: AMCR] slipped around -0.09 points on Friday, while shares priced at $10.70 at the close of the session, down -0.83%. The company report on February 14, 2023 that Amcor to participate in Bank of America Securities Global Agriculture and Materials Conference on March 1, 2023 in Fort Lauderdale.

Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced that Ron Delia, CEO of Amcor, will participate in a fireside chat with Bank of America Securities research analyst George Staphos at the Bank of America Securities 2023 Global Agriculture and Materials Conference on Wednesday, March 1, 2023, at 10:50 am ET.  Amcor is also scheduled to participate in one-on-one meetings with institutional analysts and investors throughout the day at the W Fort Lauderdale.

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Amcor plc stock is now -10.16% down from its year-to-date (YTD) trading value. AMCR Stock saw the intraday high of $10.77 and lowest of $10.58 per share. The company’s 52-week high price is 13.60, which means current price is +1.13% above from all time high which was touched on 01/09/23.

Compared to the average trading volume of 7.81M shares, AMCR reached a trading volume of 24368106 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 $11.86 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.

JP Morgan have made an estimate for Amcor plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 24, 2023. The new note on the price target was released on October 13, 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 1.07. The Price to Book ratio for the last quarter was 3.63, with the Price to Cash per share for the same quarter was set at 0.56. Price to Free Cash Flow for AMCR in the course of the last twelve months was 728.71 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 -0.37. With this latest performance, AMCR shares dropped by -7.04% in over the last four-week period, additionally sinking by -9.25% over the last 6 months – not to mention a drop of -6.63% 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 33.62, with the RSI for the last a single of trading hit 31.84, and the three-weeks RSI is set at 35.81 for Amcor plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 11.52, while it was recorded at 10.77 for the last single week of trading, and 11.92 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 1.30.

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 2.85%.

Insider trade positions for Amcor plc [AMCR]

There are presently around $7,898 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 119,787,576, which is approximately 2.391% of the company’s market cap and around 0.20% of the total institutional ownership; STATE STREET CORP, holding 106,053,111 shares of the stock with an approximate value of $1.13 billion in AMCR stocks shares; and VANGUARD GROUP INC, currently with $602.16 million in AMCR stock with ownership of nearly 0.151% of the company’s market capitalization.

305 institutional holders increased their position in Amcor plc [NYSE:AMCR] by around 53,343,512 shares. Additionally, 249 investors decreased positions by around 24,470,350 shares, while 91 investors held positions by with 660,278,684 shares. The mentioned changes placed institutional holdings at 738,092,546 shares, according to the latest SEC report filing. AMCR stock had 82 new institutional investments in for a total of 4,817,327 shares, while 44 institutional investors sold positions of 3,296,814 shares during the same period.


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