Amcor Plc [AMCR] Is Currently -1.08 below its 200 Period Moving Avg: What Does This Mean?

Amcor Plc [NYSE: AMCR] loss -1.08% or -0.1 points to close at $9.19 with a heavy trading volume of 6200280 shares. The company report on March 19, 2024 at 4:15 PM that Amcor announces CEO transition and reaffirms fiscal 2024 outlook.

Amcor (NYSE: AMCR; ASX: AMC), a global leader in developing and producing responsible packaging solutions, announced today that after nine years as Chief Executive Officer (CEO), Ron Delia has informed the Board of Directors of his decision to retire from the Company and step down from the Board for health reasons, effective April 15, 2024.

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The Board has appointed Peter Konieczny, Amcor’s current Chief Commercial Officer and a long-standing member of the Company’s Global Management Team, as Interim CEO. Mr. Delia will provide continued support in an advisory role until September 30, 2024, to facilitate the transition. The Board is conducting a thorough search process to identify a permanent successor for the CEO role, which will include internal and external candidates.

The daily chart for AMCR points out that the company has recorded 0.00% loss over the past six months.

If we look at the average trading volume of 9.03M shares, AMCR reached to a volume of 6200280 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 $9.84 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 2.85. 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. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $11.60 to $10.80. The new note on the price target was released on May 03, 2023, representing the official price target for Amcor Plc stock.

The Average True Range (ATR) for Amcor Plc is set at 0.17, 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 3.35, 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 16.28 with Quick ratio for the last quarter at 0.71.

Trading performance analysis for AMCR stock

Amcor Plc [AMCR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.03. With this latest performance, AMCR shares gained by 0.55% in over the last four-week period, additionally sinking by 0.00% over the last 6 months – not to mention a drop of -15.92% 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 45.67, with the RSI for the last a single of trading hit 42.86, and the three-weeks RSI is set at 46.77 for Amcor Plc [AMCR]. The present Moving Average for the last 50 days of trading for this stock 9.29, while it was recorded at 9.23 for the last single week of trading, and 9.44 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 0.71 and a Current Ratio set at 1.25.

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

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%.

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 8.2815%. 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%.