AptarGroup (NYSE:ATR) Updates Q4 Earnings Guidance

AptarGroup (NYSE:ATR) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.22-1.30 for the period, compared to the consensus estimate of $1.31. AptarGroup also updated its FY 2024 guidance to 5.340-5.420 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on ATR shares. Wells Fargo & Company raised their price objective on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Dbs Bank upgraded AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and boosted their price objective for the company from $155.00 to $215.00 in a research note on Monday, October 14th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AptarGroup currently has a consensus rating of “Buy” and a consensus target price of $190.00.

AptarGroup Stock Performance

NYSE ATR traded down $1.24 during trading on Thursday, reaching $166.41. The company’s stock had a trading volume of 547,277 shares, compared to its average volume of 291,544. AptarGroup has a twelve month low of $120.36 and a twelve month high of $169.65. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 35.71, a P/E/G ratio of 3.29 and a beta of 0.58. The business’s fifty day moving average price is $156.49 and its 200-day moving average price is $148.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.36.

AptarGroup (NYSE:ATR) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. AptarGroup had a return on equity of 15.13% and a net margin of 9.00%. The firm had revenue of $910.10 million for the quarter, compared to analysts’ expectations of $930.15 million. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts anticipate that AptarGroup will post 5.36 EPS for the current fiscal year.

AptarGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 24th. AptarGroup’s dividend payout ratio (DPR) is presently 38.63%.

AptarGroup declared that its board has authorized a share repurchase plan on Thursday, October 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at AptarGroup

In other news, insider Xiangwei Gong sold 800 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.56, for a total value of $117,248.00. Following the completion of the sale, the insider now owns 20,174 shares in the company, valued at approximately $2,956,701.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Shiela Vinczeller sold 1,660 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $151.15, for a total transaction of $250,909.00. Following the transaction, the insider now owns 22,651 shares of the company’s stock, valued at $3,423,698.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Xiangwei Gong sold 800 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total value of $117,248.00. Following the completion of the transaction, the insider now owns 20,174 shares of the company’s stock, valued at $2,956,701.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,457 shares of company stock worth $7,314,030 in the last three months. Insiders own 1.00% of the company’s stock.

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.