Monthly Stock Report: Amcor plc (AMCR)
Publication Date: September 22, 2024
Company Overview
Amcor plc (AMCR) is a global leader in the packaging industry, headquartered in Zurich, Switzerland. Founded in 1926, Amcor specializes in the development, production, and sale of a wide array of packaging products, catering to diverse sectors including food and beverages, medical, and personal care. The company’s operations are divided into two primary segments: Flexibles, offering innovative packaging solutions, and Rigid Packaging, which produces containers for carbonated drinks, sauces, and personal care items. Recognized within the Consumer Cyclical sector and categorized under the Materials GICS sector, Amcor’s stock is actively traded in the market.
Financial Performance Overview
Amcor reported a robust total revenue of approximately $13.64 billion, underscoring its strong financial footing and market presence. Despite these promising figures, current analyst recommendations suggest a hold strategy for investors, indicating a cautious approach towards new investments. The stock is priced at $10.90, with a target high of $11.00, highlighting potential upside; however, analysts have set a mean price target slightly lower at $10.32. This disparity suggests some bullish sentiment exists, but caution remains due to short-term market fluctuations.
Investor interest appears relatively moderate, reflected in the 0.0161 short percent of the float, representing 23,177,728 shares shorted out of a total of 1,445,340,032 shares outstanding. The company’s float shares stand at 1,436,601,532, indicating good liquidity and a balanced sentiment among investors.
Market Trends and Price Performance
Amcor’s stock has shown a recent positive trend, trading at $10.90, slightly above its fifty-day average of $10.70. With a fifty-two-week high of $11.45 and a low of $8.45, the stock reflects a stable trading range over the past year. Analysts note a cautious outlook, with a collective average recommendation score of 3.0 across 10 analyst opinions, reinforcing the “hold” strategy. Given the current market activity and financial health, industry experts suggest monitoring Amcor’s performance closely for any signs of upward momentum or volatility as it approaches its fifty-two-week high.
| Metric | Value |
|---|---|
| Market Cap | $15.8b |
| Total Debt | $7.4b |
| Total Cash | $588.0m |
| Shares Outstanding | 1.4b |
| Float Shares | 1.4b |
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