AptarGroup (NYSE:ATR) Lowered to Sell at Zacks Investment Research
AptarGroup (NYSE:ATR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports. They presently have a $130.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 6.20% from the stock’s current price.
According to Zacks, “AptarGroup’s second-quarter 2019 earnings beat the Zacks Consensus Estimate, while sales missed the same. The top and bottom lines, both, improved year over year. AptarGroup anticipates third-quarter 2019 adjusted earnings per share between 91 cents and 97 cents. The mid-point of the guidance reflects year over year growth of 1.6%. The company projects core sales to improve in each segment this year. However, lower custom tooling sales in the Beauty + Home segment remains a headwind. AptarGroup is poised to gain from the ongoing business transformation plan and product roll outs in its segments, which will drive top-line growth. The company also remains focused on expanding business through acquisitions. Nevertheless, AptarGroup’s segments results are likely to bear the brunt of currency fluctuation and elevated raw material costs.”
Several other equities analysts have also recently weighed in on ATR. UBS Group raised their price target on shares of AptarGroup from $115.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Deutsche Bank reaffirmed a “buy” rating and set a $124.00 price target on shares of AptarGroup in a research note on Thursday, May 2nd. KeyCorp reaffirmed a “hold” rating on shares of AptarGroup in a research note on Thursday, August 1st. Finally, Morgan Stanley assumed coverage on shares of AptarGroup in a research note on Monday, July 8th. They set an “overweight” rating and a $144.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $122.50.
AptarGroup (NYSE:ATR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. AptarGroup had a return on equity of 18.51% and a net margin of 7.63%. The business had revenue of $742.66 million during the quarter, compared to analysts’ expectations of $752.11 million. During the same period in the prior year, the business earned $1.09 EPS. AptarGroup’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts predict that AptarGroup will post 4.22 EPS for the current year.
In other news, insider Marc Prieur sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $121.27, for a total value of $242,540.00. Following the completion of the sale, the insider now owns 5,760 shares of the company’s stock, valued at approximately $698,515.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gael Touya sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $119.93, for a total value of $1,199,300.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of AptarGroup during the second quarter worth $44,000. Ellis Investment Partners LLC acquired a new stake in shares of AptarGroup during the first quarter worth $77,000. Hilton Capital Management LLC acquired a new stake in shares of AptarGroup during the first quarter worth $132,000. ETF Managers Group LLC lifted its holdings in shares of AptarGroup by 10.8% during the first quarter. ETF Managers Group LLC now owns 1,609 shares of the industrial products company’s stock worth $171,000 after buying an additional 157 shares in the last quarter. Finally, NEXT Financial Group Inc acquired a new stake in shares of AptarGroup during the second quarter worth $178,000. 89.57% of the stock is owned by institutional investors.
AptarGroup Company Profile
AptarGroup, Inc provides a range of packaging, dispensing, and sealing solutions primarily for the beauty, personal care, home care, prescription drug, consumer health care, injectable, and food and beverage markets. The company operates through three segments: Beauty + Home, Pharma, and Food + Beverage.
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