AptarGroup, Inc. (ATR) Rating Increased to Hold at Zacks Investment Research
AptarGroup, Inc. (NYSE:ATR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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.”
A number of other equities analysts also recently commented on ATR. Deutsche Bank AG restated a “buy” rating and issued a $90.00 target price (up from $87.00) on shares of AptarGroup in a research note on Tuesday, July 18th. BidaskClub cut AptarGroup from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. BMO Capital Markets reiterated a “hold” rating and set a $79.00 price target on shares of AptarGroup in a research report on Sunday, July 2nd. KeyCorp reissued a “hold” rating on shares of AptarGroup in a report on Friday, June 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $78.00 price target on shares of AptarGroup in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $81.40.
AptarGroup (NYSE:ATR) traded up 1.00% during midday trading on Monday, hitting $87.17. The stock had a trading volume of 54,225 shares. AptarGroup has a one year low of $70.32 and a one year high of $90.79. The firm has a market cap of $5.47 billion, a PE ratio of 25.64 and a beta of 0.96. The stock has a 50-day moving average price of $83.04 and a 200 day moving average price of $82.51.
AptarGroup (NYSE:ATR) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The business had revenue of $617.75 million during the quarter, compared to the consensus estimate of $624.74 million. AptarGroup had a net margin of 9.36% and a return on equity of 16.91%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, analysts predict that AptarGroup will post $3.34 earnings per share for the current year.
In other news, insider Gael Touya sold 35,000 shares of AptarGroup stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.25, for a total transaction of $2,843,750.00. Following the sale, the insider now owns 33,092 shares of the company’s stock, valued at $2,688,725. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Monnas Giovanna Kampouri sold 2,000 shares of AptarGroup stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $82.13, for a total value of $164,260.00. Following the sale, the director now directly owns 6,469 shares in the company, valued at approximately $531,298.97. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC grew its holdings in AptarGroup by 294.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,013,917 shares of the industrial products company’s stock worth $88,069,000 after buying an additional 757,017 shares in the last quarter. Advisory Services Network LLC increased its position in AptarGroup by 1.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,464 shares of the industrial products company’s stock valued at $388,000 after acquiring an additional 50 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in AptarGroup in the 2nd quarter valued at approximately $406,000. Public Employees Retirement System of Ohio increased its position in AptarGroup by 12.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 87,987 shares of the industrial products company’s stock valued at $7,643,000 after acquiring an additional 9,465 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in AptarGroup in the 2nd quarter valued at approximately $489,000. Institutional investors and hedge funds own 91.59% of the company’s stock.
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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