AptarGroup’s (ATR) Hold Rating Reiterated at KeyCorp

KeyCorp restated their hold rating on shares of AptarGroup, Inc. (NYSE:ATR) in a research note published on Friday morning.

“We are increasing our 2017 estimates for AptarGroup (ATR) to account for the strength in the euro during 2Q17; as a reminder, we recently raised our estimates for Sealed Air and Avery Dennison on account of FX and resin. The company’s 2Q17 guidance had assumed a $1.07 euro rate, but the euro has since appreciated to $1.12, and we calculate the average rate in the quarter will be ~$1.10. As a reminder, we estimate that a 10% change in the euro affects ATR’s annual EBIT by ~$15 million. While U.S.”,” KeyCorp’s analyst commented.

Several other equities research analysts have also recently weighed in on ATR. Zacks Investment Research cut AptarGroup from a hold rating to a sell rating in a research report on Monday, April 17th. Vertical Research cut AptarGroup from a hold rating to a sell rating in a research report on Monday, May 1st. Vertical Group cut AptarGroup from a hold rating to a sell rating and upped their price target for the company from $68.00 to $70.00 in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC reiterated a hold rating and set a $77.00 price target on shares of AptarGroup in a research report on Thursday, June 8th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $77.00.

Shares of AptarGroup (NYSE ATR) opened at 86.93 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 26.25 and a beta of 0.96. The firm’s 50-day moving average is $84.02 and its 200-day moving average is $77.37. AptarGroup has a 52 week low of $70.32 and a 52 week high of $87.37.

AptarGroup (NYSE:ATR) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. AptarGroup had a return on equity of 16.58% and a net margin of 9.09%. The firm had revenue of $601.30 million for the quarter, compared to analysts’ expectations of $591.69 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that AptarGroup will post $3.43 EPS for the current year.

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In other AptarGroup news, Director Stephen J. Hagge sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $79.78, for a total value of $2,193,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Kuhn sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $79.78, for a total value of $3,590,100.00. Following the completion of the sale, the chief financial officer now directly owns 34,008 shares of the company’s stock, valued at approximately $2,713,158.24. The disclosure for this sale can be found here. Insiders have sold 251,726 shares of company stock valued at $20,588,098 in the last three months. 5.30% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of AptarGroup by 1.7% in the first quarter. Toronto Dominion Bank now owns 1,771 shares of the industrial products company’s stock valued at $137,000 after buying an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of AptarGroup by 16.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,314 shares of the industrial products company’s stock valued at $178,000 after buying an additional 335 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of AptarGroup by 11.5% in the first quarter. Independent Portfolio Consultants Inc. now owns 2,330 shares of the industrial products company’s stock valued at $179,000 after buying an additional 240 shares in the last quarter. Huntington National Bank raised its stake in shares of AptarGroup by 4.7% in the first quarter. Huntington National Bank now owns 2,621 shares of the industrial products company’s stock valued at $202,000 after buying an additional 117 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of AptarGroup during the first quarter valued at about $204,000. 90.11% 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.

Analyst Recommendations for AptarGroup (NYSE:ATR)

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