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Zurich-based Amcor plc (AMCR) develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. With a market cap of $16.2 billion, Amcor offers flexible and rigid packaging, specialty cartons, and closures, helping companies protect their products and differentiate their brands.
Companies worth $10 billion or more are generally described as "large-cap stocks," Amcor fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the packaging industry.
Operating in over 40 countries and serving diverse industries, its strong brand reputation for high-quality packaging gives it a competitive edge. Additionally, Amcor’s investment in research and development drives innovation, allowing the company to meet evolving customer demands with cutting-edge packaging solutions.
Amcor touched its 52-week high of $11.45 on Aug. 30 and is now trading 3.2% below that peak. AMCR has gained 12.2% over the past three months, surpassing the S&P 500 Index’s ($SPX) 4.6% gains during the same time frame.
However, over the longer term, AMCR gained 14.9% in 2024 and 20.6% over the past 52 weeks, lagging behind SPX’s 20% gains on a YTD basis and 31.9% returns over the past year.
Despite the underwhelming price performance over the long term, Amcor has traded mostly above its 50-day moving average since the end of July and over its 200-day moving average since the end of April, suggesting an uptrend.
On Aug. 16, Amcor released its Q4 earnings report, and its stock dipped 3.7%. While it beat Wall Street’s bottom line expectations, it missed topline predictions, leading to a drop in the stock price.
To emphasize the stock’s underperformance, AMCR’s rival, Packaging Corporation of America (PKG), is up 31.6% on a YTD basis and has soared 42.1% over the past year.
Among the 10 analysts covering the AMCR stock, the consensus rating is a “Hold.” In addition, the stock currently trades above its mean price target of $10.38.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
