Zacks Investment Research cut shares of AptarGroup, Inc. (NYSE:ATR) from a buy rating to a hold rating in a research report report published 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 research firms also recently commented on ATR. BMO Capital Markets reaffirmed a hold rating and issued a $92.00 price target on shares of AptarGroup in a research note on Thursday, July 20th. Deutsche Bank AG reaffirmed a buy rating and issued a $90.00 price target (up previously 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. Robert W. Baird reiterated a hold rating and issued a $85.00 target price on shares of AptarGroup in a research report on Thursday, October 12th. Finally, KeyCorp reiterated a hold rating on shares of AptarGroup in a research report on Friday, June 23rd. Three research 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’s stock. The company currently has a consensus rating of Hold and a consensus price target of $84.57.
Shares of AptarGroup (ATR) traded down $1.09 during midday trading on Wednesday, reaching $85.85. The company’s stock had a trading volume of 271,633 shares, compared to its average volume of 233,353. The company has a market cap of $5,350.00, a price-to-earnings ratio of 26.34, a P/E/G ratio of 3.05 and a beta of 0.96. AptarGroup has a fifty-two week low of $70.75 and a fifty-two week high of $90.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.75 and a quick ratio of 2.29.
AptarGroup (NYSE:ATR) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The business had revenue of $624.33 million during the quarter, compared to the consensus estimate of $599.31 million. AptarGroup had a return on equity of 16.82% and a net margin of 9.24%. AptarGroup’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts expect that AptarGroup will post 3.35 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 31st. AptarGroup’s dividend payout ratio (DPR) is currently 37.54%.
In other news, insider Salim Haffar sold 18,130 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $86.49, for a total transaction of $1,568,063.70. Following the sale, the insider now directly owns 39,556 shares in the company, valued at $3,421,198.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Monnas Giovanna Kampouri sold 2,000 shares of the company’s 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 completion of the sale, the director now owns 6,469 shares in the company, valued at $531,298.97. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ATR. Cigna Investments Inc. New bought a new stake in AptarGroup in the second quarter valued at approximately $206,000. Stewart & Patten Co. LLC bought a new stake in AptarGroup in the second quarter valued at approximately $208,000. Rehmann Capital Advisory Group bought a new stake in AptarGroup in the second quarter valued at approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AptarGroup by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,501 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 187 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in AptarGroup by 233.1% in the second quarter. Susquehanna International Group LLP now owns 2,528 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 4,428 shares during the last quarter. Institutional investors and hedge funds own 91.72% 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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