Morgan Stanley analyst Andrew Scott maintained a Buy rating on Orora Ltd. (ORRAF – Research Report) today and set a price target of A$3.20. The company’s shares closed last Wednesday at $1.59.
According to TipRanks, Scott is a 4-star analyst with an average return of 4.8% and a 53.10% success rate. Scott covers the Basic Materials sector, focusing on stocks such as Bluescope Steel Limited, James Hardie, and Incitec Pivot Limited.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Orora Ltd. with a $2.03 average price target, representing a 27.67% upside. In a report released yesterday, Citi also maintained a Buy rating on the stock with a A$3.28 price target.
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ORRAF market cap is currently $2.54B and has a P/E ratio of 13.97.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ORRAF in relation to earlier this year.
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Orora Ltd. (ORRAF) Company Description:
Orora Ltd. engages in the manufacturing and distribution fiber, glass and aluminum beverage cans. It operates through the following segments: Orora Australasia, Orora North America and Other. The Orora Australasia segment focuses on the manufacture of fiber and beverage packaging products within Australia and New Zealand. Its products include glass bottles, beverage cans, wines closures, corrugated boxes, cartons and sacks, and the manufacture of recycled paper. The Orora North America segment activities include purchasing, warehousing, selling and delivering a range of packaging and other related materials. Its activities also include integrated corrugated sheet and box manufacturing and equipment sales capabilities and the point of purchase retail display solutions, and other visual communication services. The Other segment involves in the corporate functions of the group. The company was founded in 1949 and is headquartered in Melbourne, Australia.
