AptarGroup, Inc. (NYSE:ATR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of AptarGroup, Inc. (NYSE:ATR) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $189.50.

A number of research firms have recently weighed in on ATR. Robert W. Baird upped their price objective on AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group raised shares of AptarGroup from a “hold” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $215.00 in a report on Monday, October 14th. Wells Fargo & Company cut their target price on shares of AptarGroup from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America downgraded shares of AptarGroup from a “buy” rating to a “neutral” rating and set a $173.00 price objective for the company. in a report on Monday.

Insider Activity at AptarGroup

In other AptarGroup news, EVP Kimberly Chainey sold 964 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following the transaction, the executive vice president now owns 7,848 shares in the company, valued at $1,324,977.84. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephan B. Tanda sold 30,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $169.60, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer now directly owns 174,118 shares in the company, valued at approximately $29,530,412.80. This represents a 14.70 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On AptarGroup

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in AptarGroup by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,977 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 68 shares during the last quarter. Commerce Bank grew its position in shares of AptarGroup by 3.3% in the 3rd quarter. Commerce Bank now owns 2,349 shares of the industrial products company’s stock worth $376,000 after buying an additional 75 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of AptarGroup by 2.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,315 shares of the industrial products company’s stock worth $531,000 after acquiring an additional 76 shares in the last quarter. Argent Trust Co lifted its position in AptarGroup by 6.1% during the second quarter. Argent Trust Co now owns 1,685 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 97 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in AptarGroup by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 4,585 shares of the industrial products company’s stock valued at $734,000 after acquiring an additional 104 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors.

AptarGroup Price Performance

Shares of ATR traded down $2.52 during mid-day trading on Monday, reaching $152.98. The stock had a trading volume of 83,152 shares, compared to its average volume of 182,677. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.97 and a beta of 0.59. AptarGroup has a 12 month low of $122.37 and a 12 month high of $178.03. The business has a fifty day moving average of $167.52 and a 200 day moving average of $156.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.62.

AptarGroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 10th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

AptarGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.18%. AptarGroup’s payout ratio is currently 36.14%.

About AptarGroup

AptarGroup, Inc designs and manufactures a range of drug delivery, consumer product dispensing, and active material science solutions and services for the pharmaceutical, beauty, personal care, home care, and food and beverage markets. The company operates through Aptar Pharma, Aptar Beauty, and Aptar Closures segments.