AptarGroup, Inc. (ATR) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of AptarGroup, Inc. (NYSE:ATR) from a sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “For third-quarter 2017, AptarGroup expects earnings to be in the range of 77–97 cents. The mid point of the guidance reflects 4.8% improvement year over year. Its focus on execution of growth strategy will help customers to grow their businesses with innovative dispensing solutions. The company has implemented a commercial excellence program to boost sales and marketing capability in its Beauty + Home segment. However, AptarGroup continues to face headwinds in Brazil due to tough economic situation. Absence of some significant custom tooling sales will drag Pharma segment's sales growth in the next quarter. In addition, weak consumer spending will hit AptarGroup, curbing demand for its products. Additional interest expense, higher raw material costs and foreign exchange volatility will also hurt the company’s results in the near term. Its estimates have gone down lately.”
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of AptarGroup from a hold rating to a sell rating in a report on Thursday, August 24th. Deutsche Bank AG restated a buy rating and set a $90.00 target price (up previously from $87.00) on shares of AptarGroup in a report on Tuesday, July 18th. BMO Capital Markets restated a hold rating and set a $79.00 target price on shares of AptarGroup in a report on Sunday, July 2nd. KeyCorp restated a hold rating on shares of AptarGroup in a report on Friday, June 23rd. Finally, Jefferies Group LLC restated a hold rating and set a $78.00 target price on shares of AptarGroup in a report on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $81.40.
AptarGroup (NYSE:ATR) opened at 88.14 on Monday. The company’s 50 day moving average is $84.45 and its 200-day moving average is $83.29. AptarGroup has a 52-week low of $70.32 and a 52-week high of $90.79. The firm has a market cap of $5.53 billion, a P/E ratio of 25.92 and a beta of 0.96.
AptarGroup (NYSE:ATR) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. The business had revenue of $617.75 million for the quarter, compared to analysts’ expectations of $624.74 million. AptarGroup had a net margin of 9.36% and a return on equity of 16.91%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, equities analysts predict that AptarGroup will post $3.34 EPS for the current fiscal year.
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In other AptarGroup news, insider Gael Touya sold 35,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.25, for a total value of $2,843,750.00. Following the completion of the transaction, the insider now owns 33,092 shares of the company’s stock, valued at approximately $2,688,725. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Monnas Giovanna Kampouri sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $82.13, for a total value of $164,260.00. Following the completion of the transaction, the director now directly owns 6,469 shares of the company’s stock, valued at approximately $531,298.97. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of ATR. UBS Asset Management Americas Inc. raised its position in AptarGroup by 17.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 38,923 shares of the industrial products company’s stock worth $2,997,000 after buying an additional 5,663 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of AptarGroup during the 1st quarter valued at about $1,511,000. Oxford Asset Management bought a new stake in shares of AptarGroup during the 1st quarter valued at about $496,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of AptarGroup by 1.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,047 shares of the industrial products company’s stock valued at $927,000 after purchasing an additional 116 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of AptarGroup by 2.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,337 shares of the industrial products company’s stock valued at $949,000 after purchasing an additional 255 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.
AptarGroup, Inc is a provider of a range of packaging, dispensing and sealing solutions, primarily for the beauty, personal care, homecare, prescription drug, consumer healthcare, injectables, food and beverage markets. The Company has manufacturing facilities located throughout the world, including North America, Europe, Asia and South America.
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