AptarGroup, Inc. (ATR) Upgraded to Hold by Zacks Investment Research
AptarGroup, Inc. (NYSE:ATR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. Further its Pharma segment continues to benefit from strong demand across its portfolio of devices. However, AptarGroup continues to face headwinds in Brazil due to the tough economic situation. Its business in China also remains at risk due to the recent record heat wave near Shanghai resulting in energy restrictions. Additional interest expense, higher raw material costs and foreign exchange volatility will also hurt results. AptarGroup underperformed the industry’s performance over the past year.”
Several other research firms have also weighed in on ATR. BMO Capital Markets restated a “hold” rating and set a $79.00 price target on shares of AptarGroup in a research report on Sunday, July 2nd. BidaskClub lowered AptarGroup from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. KeyCorp reissued a “hold” rating on shares of AptarGroup in a report on Friday, June 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $78.00 target price (down from $81.00) on shares of AptarGroup in a report on Monday, July 31st. Finally, Vertical Research raised AptarGroup from a “sell” rating to a “hold” rating and boosted their target price for the stock from $70.00 to $77.00 in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $81.83.
AptarGroup (ATR) traded up 0.17% during midday trading on Tuesday, hitting $82.00. The company had a trading volume of 226,288 shares. AptarGroup has a 52 week low of $70.32 and a 52 week high of $90.79. The stock has a 50 day moving average price of $85.03 and a 200 day moving average price of $81.30. The company has a market capitalization of $5.14 billion, a P/E ratio of 24.12 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 Thomson Reuters’ consensus estimate of $0.96 by $0.05. AptarGroup had a return on equity of 20.51% and a net margin of 10.55%. The company had revenue of $617.75 million for the quarter, compared to analyst estimates of $624.74 million. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that AptarGroup will post $3.34 earnings per share for the current fiscal year.
In other news, Director Monnas Giovanna Kampouri sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $82.13, for a total transaction of $164,260.00. Following the transaction, the director now directly owns 6,469 shares of the company’s stock, valued at $531,298.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen J. Hagge sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $85.97, for a total value of $2,149,250.00. Following the transaction, the director now directly owns 107,700 shares in the company, valued at $9,258,969. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,000 shares of company stock worth $6,353,280. Corporate insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC increased its position in shares of AptarGroup by 0.4% in the second quarter. Great Lakes Advisors LLC now owns 5,683 shares of the industrial products company’s stock worth $494,000 after buying an additional 20 shares during the last quarter. Opus Capital Group LLC boosted its stake in AptarGroup by 0.6% in the first quarter. Opus Capital Group LLC now owns 5,086 shares of the industrial products company’s stock worth $391,000 after buying an additional 30 shares during the period. Toronto Dominion Bank boosted its stake in AptarGroup by 1.7% in the first quarter. Toronto Dominion Bank now owns 1,771 shares of the industrial products company’s stock worth $137,000 after buying an additional 30 shares during the period. Coldstream Capital Management Inc. boosted its stake in AptarGroup by 1.1% in the second quarter. Coldstream Capital Management Inc. now owns 2,805 shares of the industrial products company’s stock worth $244,000 after buying an additional 30 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in AptarGroup by 0.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,565 shares of the industrial products company’s stock worth $274,000 after buying an additional 31 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.
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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