We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amcor (AMCR) Rolls Out Recyclable Shrink Bag for Food Packaging
Read MoreHide Full Article
Amcor Plc (AMCR - Free Report) has unveiled its first recyclable shrink bag — Eco-Tite R — for fresh and processed meat, poultry and cheese producers in Europe. The bag is designed to maximise shelf-life, reduce food waste, maintain food safety as well as can be recycled in existing polyethylene (PE) plastic recycling streams. This will enable customers to recycle their poultry, cheese and meat packaging while getting benefits of longer-lasting food.
Amcor’s Eco-TiteR is a mono-PE packaging with multi-layer, which maintains a high barrier to oxygen and water vapour even when exposed to high-moisture environments, such as refrigerators and cooler cases. It provides an edge over PVDC packaging, which is not recyclable in chemical or mechanical recycling systems.
The latest innovation supports Amcor's commitment to make all of the company’s packaging to be recyclable by 2025.
Last month, the company reported first-quarter fiscal 2021 adjusted earnings per share of 15.80 cents, which beat the Zacks Consensus Estimate of 15 cents. Notably, the bottom line also improved 18% year over year from the 13.40 cents reported in the prior-year quarter. The upside was primarily driven by stellar demand and improved performances across its segments.
Backed by the improved fiscal first-quarter performance, Amcor expects adjusted constant currency earnings per share growth of approximately 7-12% in fiscal 2021 compared with the previous guidance of 5-10% growth. The company is poised to gain from the solid packaging demand for essential products.
Share Price Performance
The company’s shares have gained 8.8% over the past year, outperforming the industry’s growth of 11.6%.
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Industrial Products sector include iRobot Corporation (IRBT - Free Report) , Crown Holdings, Inc. (CCK - Free Report) and SiteOne Landscape Supply, Inc. (SITE - Free Report) . While iRobot flaunts a Zacks Rank #1 (Strong Buy), Crown Holdings and SiteOne Landscape carry a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
iRobot has an estimated earnings growth rate of 18.8% for the ongoing year. Shares of the company have appreciated 75.7% in the past year.
Crown Holdings has a projected earnings growth rate of 11.7% for fiscal 2020. Over the past year, the company’s shares have gained 29.6%. SiteOne
Landscape has an expected earnings growth rate of 28.6% for 2020. The stock has climbed 56.1% in a year’s time.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Amcor (AMCR) Rolls Out Recyclable Shrink Bag for Food Packaging
Amcor Plc (AMCR - Free Report) has unveiled its first recyclable shrink bag — Eco-Tite R — for fresh and processed meat, poultry and cheese producers in Europe. The bag is designed to maximise shelf-life, reduce food waste, maintain food safety as well as can be recycled in existing polyethylene (PE) plastic recycling streams. This will enable customers to recycle their poultry, cheese and meat packaging while getting benefits of longer-lasting food.
Amcor’s Eco-TiteR is a mono-PE packaging with multi-layer, which maintains a high barrier to oxygen and water vapour even when exposed to high-moisture environments, such as refrigerators and cooler cases. It provides an edge over PVDC packaging, which is not recyclable in chemical or mechanical recycling systems.
The latest innovation supports Amcor's commitment to make all of the company’s packaging to be recyclable by 2025.
Last month, the company reported first-quarter fiscal 2021 adjusted earnings per share of 15.80 cents, which beat the Zacks Consensus Estimate of 15 cents. Notably, the bottom line also improved 18% year over year from the 13.40 cents reported in the prior-year quarter. The upside was primarily driven by stellar demand and improved performances across its segments.
Backed by the improved fiscal first-quarter performance, Amcor expects adjusted constant currency earnings per share growth of approximately 7-12% in fiscal 2021 compared with the previous guidance of 5-10% growth. The company is poised to gain from the solid packaging demand for essential products.
Share Price Performance
The company’s shares have gained 8.8% over the past year, outperforming the industry’s growth of 11.6%.
Zacks Rank & Stocks to Consider
Amcor currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Industrial Products sector include iRobot Corporation (IRBT - Free Report) , Crown Holdings, Inc. (CCK - Free Report) and SiteOne Landscape Supply, Inc. (SITE - Free Report) . While iRobot flaunts a Zacks Rank #1 (Strong Buy), Crown Holdings and SiteOne Landscape carry a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
iRobot has an estimated earnings growth rate of 18.8% for the ongoing year. Shares of the company have appreciated 75.7% in the past year.
Crown Holdings has a projected earnings growth rate of 11.7% for fiscal 2020. Over the past year, the company’s shares have gained 29.6%.
SiteOne
Landscape has an expected earnings growth rate of 28.6% for 2020. The stock has climbed 56.1% in a year’s time.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>