AptarGroup’s Neutral Rating Reaffirmed at Zacks (ATR)
AptarGroup (NYSE:ATR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Monday. They currently have a $70.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 4.52% from the company’s current price.
Zacks’ analyst wrote, “Following its first-quarter 2014 earnings of $0.71 per share which increased 11% year over year and total revenue growth of 9% year over year to $676 million, AptarGroup expects earnings for second-quarter 2014 to be in the range of $0.78 to $0.83 per share. The company remains committed to cost containment and development of innovative products. Investment in equipment and acquisitions are also expected to contribute to growth. However single sourced materials and decline in consumer spending could affect AptarGroup’s profitability. The company also continue to experience price competition in all product lines which could adversely affect its financial condition. Moreover, earnings will be negatively impacted by volatile raw material prices and economic uncertainty. Thus, we maintain our Neutral recommendation on AptarGroup with a target price of $70.”
AptarGroup (NYSE:ATR) traded down 1.16% during mid-day trading on Monday, hitting $66.19. The stock had a trading volume of 94,816 shares. AptarGroup has a 52-week low of $55.64 and a 52-week high of $68.78. The stock’s 50-day moving average is $66.42 and its 200-day moving average is $65.85. The company has a market cap of $4.332 billion and a P/E ratio of 25.37.
AptarGroup (NYSE:ATR) last released its earnings data on Thursday, April 24th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.03. The company had revenue of $676.05 million for the quarter, compared to the consensus estimate of $657.82 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that AptarGroup will post $3.04 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Bank of America downgraded shares of AptarGroup from a “neutral” rating to an “underperform” rating in a research note on Friday, June 13th. They now have a $70.00 price target on the stock. Analysts at Macquarie raised their price target on shares of AptarGroup from $64.00 to $67.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. AptarGroup has an average rating of “Hold” and a consensus target price of $68.40.
AptarGroup, Inc, is a global solution provider of a range of packaging delivery solutions primarily for the beauty, personal care, home care, pharmaceutical, food and beverage markets.
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