Market Analysts see Amcor Plc [AMCR] falling to $9. Time to buy?

Amcor Plc [NYSE: AMCR] traded at a high on Monday, posting a 0.88 gain after which it closed the day’ session at $9.18. The company report on February 6, 2024 at 4:10 PM that Amcor reports first half and second quarter result for fiscal 2024.

December 2023 quarter:GAAP diluted EPS of 9.2 cps; Adjusted EPS of 15.7 cps.

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The results of the trading session contributed to over 8115558 shares changing hands. Over the past one week, the price volatility of Amcor Plc stands at 2.71% while the volatility over the past one month is 1.83%.

The market cap for AMCR stock reached $13.27 billion, with 1.45 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 0.95 shares, AMCR reached a trading volume of 8115558 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 $9.69 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 2.89. 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.

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 0.95. The Price to Book ratio for the last quarter was 3.34, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for AMCR in the course of the last twelve months was 16.26 with Quick ratio for the last quarter at 0.71.

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 -0.43. With this latest performance, AMCR shares dropped by -6.71% in over the last four-week period, additionally sinking by -5.26% over the last 6 months – not to mention a drop of -18.18% 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 40.28, with the RSI for the last a single of trading hit 38.90, and the three-weeks RSI is set at 42.50 for Amcor Plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 9.55, while it was recorded at 9.20 for the last single week of trading, and 9.59 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 0.71 and a Current Ratio set at 1.25.

Earnings analysis for Amcor Plc [AMCR]

With the latest financial reports released by the company, Amcor Plc posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.60%. 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%.

Insider trade positions for 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AMCR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AMCR stock with ownership which is approximately 5.8325%.