AptarGroup (ATR) Downgraded to “Hold” at Zacks Investment Research
AptarGroup (NYSE:ATR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “AptarGroup’s earnings in the fourth quarter of 2017 will be hurt by higher raw material costs and lower results at its decorative facility in Europe. Also, AptarGroup continues to face headwinds in Brazil due to tough economic situation. Nevertheless, the company is well poised for growth given its focus on innovation, solid product pipeline and demand in the Pharma market. The company has implemented a commercial excellence program to boost sales and marketing capability in Beauty + Home segment, which will lead to improved results. Estimates have been stable ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. Moreover, the stock outperformed the industry in the past year.”
Other equities research analysts also recently issued reports about the company. Robert W. Baird reiterated a “hold” rating and issued a $85.00 target price on shares of AptarGroup in a report on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of AptarGroup in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. AptarGroup currently has a consensus rating of “Hold” and an average target price of $84.29.
In other news, Director Stephen J. Hagge sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $86.12, for a total transaction of $2,153,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ralf K. Wunderlich sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $87.03, for a total value of $2,262,780.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,000 shares of company stock valued at $4,852,930. 5.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATR. Zions Bancorporation bought a new stake in shares of AptarGroup during the third quarter valued at approximately $187,000. Susquehanna International Group LLP increased its holdings in shares of AptarGroup by 233.1% during 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 in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of AptarGroup during the third quarter valued at approximately $221,000. Coldstream Capital Management Inc. increased its holdings in shares of AptarGroup by 1.1% during the second quarter. Coldstream Capital Management Inc. now owns 2,805 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 30 shares in the last quarter. Finally, Dean Capital Investments Management LLC bought a new stake in shares of AptarGroup during the fourth quarter valued at approximately $273,000. Hedge funds and other institutional investors own 91.40% of the company’s stock.
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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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