Zacks Investment Research cut shares of AptarGroup, Inc. (NYSE:ATR) from a buy rating to a hold rating in a research report sent to investors on Wednesday, October 18th.
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 business with innovative dispensing solutions. The company has implemented a commercial excellence program to boost sales and marketing capability in Beauty + Home segment. AptarGroup also has positive record of earnings surprises in the last few quarters. Moreover, the stock outperformed the industry in the past year. However, AptarGroup continues to face headwinds in Brazil due to tough economic situation. 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. Further, its estimates have gone down over the past three months.”
A number of other equities research analysts have also commented on the company. Deutsche Bank AG reiterated a buy rating and issued a $90.00 price target (up previously from $87.00) on shares of AptarGroup in a research report on Tuesday, July 18th. BidaskClub lowered AptarGroup from a strong-buy rating to a buy rating in a research report on Monday, July 24th. BMO Capital Markets restated a hold rating and set a $79.00 target price on shares of AptarGroup in a research report on Sunday, July 2nd. KeyCorp restated a hold rating on shares of AptarGroup in a research 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 research report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. AptarGroup has an average rating of Hold and an average price target of $84.57.
AptarGroup (NYSE ATR) traded down 2.47% during midday trading on Wednesday, hitting $86.74. 185,700 shares of the stock were exchanged. The firm has a 50 day moving average of $87.00 and a 200-day moving average of $84.58. AptarGroup has a 12-month low of $70.32 and a 12-month high of $90.79. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 25.51 and a beta of 0.96.
AptarGroup (NYSE:ATR) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. AptarGroup had a return on equity of 16.91% and a net margin of 9.36%. The business had revenue of $624.33 million during the quarter, compared to analysts’ expectations of $599.31 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts expect that AptarGroup will post $3.34 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 1st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 31st. AptarGroup’s dividend payout ratio (DPR) is presently 37.54%.
In related news, insider Gael Touya sold 35,000 shares of the 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 completion of the sale, the insider now directly owns 33,092 shares of the company’s stock, valued at $2,688,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Monnas Giovanna Kampouri sold 2,000 shares of the 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 of the company’s stock, valued at $531,298.97. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. bought a new position in AptarGroup during the second quarter valued at $11,525,000. BlackRock Inc. grew its holdings in AptarGroup by 5,710.7% during the first quarter. BlackRock Inc. now owns 5,086,882 shares of the industrial products company’s stock valued at $391,639,000 after purchasing an additional 4,999,339 shares during the period. Chemical Bank bought a new position in AptarGroup during the second quarter valued at $313,000. Morgan Stanley grew its holdings in AptarGroup by 28.0% during the first quarter. Morgan Stanley now owns 148,665 shares of the industrial products company’s stock valued at $11,446,000 after purchasing an additional 32,552 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in AptarGroup by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 547,856 shares of the industrial products company’s stock valued at $42,179,000 after purchasing an additional 42,712 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.
AptarGroup Company Profile
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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