Amcor Plc [AMCR] Is Currently 3.41 below its 200 Period Moving Avg: What Does This Mean?

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Amcor Plc [NYSE: AMCR] gained 3.41% on the last trading session, reaching $9.11 price per share at the time. The company report on November 2, 2023 at 5:00 AM that Amcor FY23 Sustainability Report: The Future of Packaging is Here.

Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, today released its Fiscal Year (FY) 2023 Sustainability Report. Entitled “The Future of Packaging is Here,” the report details how Amcor is delivering on the ambitious, industry-leading sustainability commitments it has made during the past decade.

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“Amcor recognized years ago that our commitment to shaping the future of packaging required rethinking our present and taking meaningful action,” said Amcor CEO Ron Delia.

Amcor Plc represents 1.45 billion in outstanding shares, while the company has a total market value of $13.17 billion with the latest information. AMCR stock price has been found in the range of $8.89 to $9.12.

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If compared to the average trading volume of 7.45M shares, AMCR reached a trading volume of 17588881 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $9.38 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 2.95. 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 Underperform, with their previous recommendation back on July 10, 2023.

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The Average True Range (ATR) for Amcor Plc is set at 0.20, with the Price to Sales ratio for AMCR stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 3.37, with the Price to Cash per share for the same quarter was set at 0.36. Price to Free Cash Flow for AMCR in the course of the last twelve months was 14.91 with Quick ratio for the last quarter at 0.74.

Trading performance analysis for AMCR stock

Amcor Plc [AMCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.20. With this latest performance, AMCR shares gained by 2.02% in over the last four-week period, additionally sinking by -12.57% over the last 6 months – not to mention a drop of -15.96% 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 57.79, with the RSI for the last a single of trading hit 64.68, and the three-weeks RSI is set at 53.40 for Amcor Plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 9.07, while it was recorded at 8.88 for the last single week of trading, and 10.19 for the last 200 days.

Amcor Plc [AMCR]: A deeper dive into fundamental analysis

Amcor Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 1.27.

Amcor Plc [AMCR]: An earnings per share (EPS) analysis

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 5.40%.

An analysis of Institutional ownership at Amcor Plc [AMCR]

The top three institutional holders of AMCR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in AMCR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in AMCR stock with ownership which is approximately 5.7994%.

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